What we do

Risk Based Decision Making

‘Risk-Based Decision Making’ (RBDM) is about making strategic choices and taking actions while considering the potential risks and uncertainties associated with different courses of action by systematically evaluating risks.

Incorporating risk management strategies into decision-making processes, organisations can make more informed and robust decisions in the energy sector and the complex and evolving domains of energy transition and decarbonisation.

In analysing, assessing, and guiding decisions in the context of energy transition, technology commercialization, developing transition pathways, and understanding transition risks, RBDM is a structured approach to decision-making that considers the uncertainties and risks associated with different options or alternatives in complex, long-term processes. RBDM can be used to assess:

  • Risks associated with different energy sources and technologies.
  • Costs, reliability, environmental impact, and regulatory uncertainty.
  • Allocation of resources and investment.
  • Most effective and sustainable energy transition pathways.
  • Which technologies are most suitable and appropriate.
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