Hiskes and Hiskes, "Risk/Benefit Model"
Notable because it is a general procedure, because it is policy-driven, and because it assigns probabilities and other mathematical values
SOURCE FOR THE PROCEDURE
Hiskes, Anne L., and Richard P. Hiskes. Science, Technology, and Policy Decisions. Boulder: Westview Press, 1986.
THE PROCEDURE ITSELF
- Identify the problem and basic policy objectives.
- Formulate alternative courses of action.
- Identify relative consequences of each alternative.
- Assign a probability to each relevant consequence.
- Assign a value, i.e., a numerical cost or benefit, to each consequence.
- Combine the information obtained in steps 3-5 and select the best alternative.
WALT'S CHECKLIST
The same checklist was applied to all procedures.
- This method is most useful when the DECISION-MAKER ...
- has plenty of time for investigation and analysis [steps 3, 4 and 5]
- is willing to frame the issue in numerical or quasi-numerical terms [step 5]
- uses a "bookkeeping" system that allows multiple alternatives to be tracked, scored, ranked and compared [step 6]
- This method is most useful in a SITUATION ...
- that will change little over time
- where an optimal decision is required [step 6]
- This method is most useful when STAKEHOLDERS ...
