Publication

Planning Adaptive Risk Regulation

2016
Reports

Abstract

This report comprises a summary of the contributions made at a conference in 2016. The conference was conveyed to discuss two main questions: (1) how can law and regulation keep up with advances in science and technology, and (2) how can regulated parties cope with flexibility and adaptation in regulatory frameworks. The conference featured more particularly thinking about 'Planned Adaptive Regulation' (PAR). Regulation of risk in sectors marked by rapid advances in science and technology needs to rely on projections of risks, benefits, safety, efficacy, and acceptable quality, with updates and revisions as new knowledge becomes available. In fields of new technologies, it is essential to address potential emerging risks without discouraging healthy risk taking and stifling innovative activities. Planned Adaptive regulation may be needed to keep up with changing science and technology.

Official source

https://infoscience.epfl.ch/entities/publication/3d5d3833-90c8-41bc-9d85-7cfe20e82488

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2016
Reports

Abstract

Official source

https://infoscience.epfl.ch/entities/publication/3d5d3833-90c8-41bc-9d85-7cfe20e82488

About this result

Related concepts (18)

Risk

In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is "effect of uncertainty on objectives".

Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Operational risk

Operational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that can trigger operational risk. The process to manage operational risk is known as operational risk management.

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