Risk, Uncertainty, Decision and Stakeholders - Best Practice for Sustainable Outcomes

Quantifying risk and uncertainty and decision modelling have a great deal in common, and in particular that they are focussed on a main stakeholder or decision-making panel who stands to benefit from the utility they have defined.In every case, to achieve the objectives of the exercise, an essential starting point with any problem is to interact with problem-owners, their advisers, experts and close stakeholders to understand their perspectives, views, values, uncertainties, worldview, etc.In this paper we demonstrate the vital steps to be taken in achieving a high-value outcome, from discovering the purpose of the modelling, through engaging relevant stakeholders to delivery of a sustainable and requisite model.