|Cost / Benefit of Risk Mitigations|
|ALARP – Trade-off between resources and risk|
Of course, ALARP only tells half the story.... Whenever we manage risk, we also want to optimize the benefits or positive outcomes. It might therefore be time to update ALARP to AHLARP (As High/Low As Reasonably Practicable). More on this at AHLARP where we look at what it means to manage the positive outcomes (benefits) to be HIGH, while minimizing the negative outcomes (losses). What do you think? Is AHLARP, the better concept? How do we get to AHLARP? Ie. How do we benchmark and measure the benefits of risk management?