Risk reality vs risk perception

Abstract

Here we explore new tools to improve risk communication within built infrastructure procurement by considering quantitative engineering risk and perceived risk associated with groups of stakeholders. In particular, the perceived risk is assumed to be dependent on motivational values that individuals identify with. The motivational values are evaluated using 40 questions Swartz Portrait Value Questionnaires. Ten hazards are considered in a survey to identify two dimensions, fear and unknown for a specific group of stakeholders. From the outcomes, it was identified that using a hybrid approach to establish the motivational values and risk perceptions for the stakeholder group risk communication could be improved. Furthermore, the outcomes could be used to target information to stakeholders or intervene to ensure that infrastructure performs according to expectation. As a result, it could become possible to revise what are currently inconsistent acceptable risk levels that have been embedded in regulatory documentation.