Risk/Benefit Analysis in Water Resources Planning and Management

Ronald M. North President Universities Council on Water Resources People sense intuitively that the world in which we live is not free of risk. Every decision, every action, even the refusal to either act or decide involves some element of risk. Perhaps, because we accept relatively low levels of risk in our daily activi­ ties, we tend to minimize the existence of risk and thereby fail to include risk assessment in those decisions and actions which could be improved through a risk assessment process. However, our casual approach to risk assessment seems to stem largely from the diffi­ culties inherent in measuring risk rather than from any lack of cognizance of the existence of risk. This conclusion is evidenced by the many statements in official documents relating to planning and evaluation which suggest that risk assessments should be con­ ducted but do not provide the mechanism for such assessments nor do they encourage their consideration in the decision making process. This conference on Risk/Benefit Analysis in Water Resources Planning and Management is notable because it attempts to identify and evaluate the mechanisms available for risk assessment which might be useful in water resources planning and management efforts. These proceedings bring together the thoughts of professional per­ sons who have struggled with the problems of risk assessment and who have contributed to the refinement of both theoretical and pragmatic solutions for the improvement of risk assessment processes.