Open AccessAviation Risk Assessment in the Context of Uncertainty
Author(s) -
Casandra Venera Pietreanu,
Sorin Eugen Zaharia,
Valentin Iordache
Publication year - 2020
Publication title -
incas buletin
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.282
H-Index - 10
eISSN - 2247-4528
pISSN - 2066-8201
DOI - 10.13111/2066-8201.2020.12.3.20
Subject(s) - aviation , context (archaeology) , risk analysis (engineering) , aviation accident , risk assessment , risk management , relation (database) , actuarial science , management science , computer science , business , engineering , computer security , paleontology , finance , biology , aerospace engineering , database
The paper analysis a subject insufficiently addressed or even misunderstood (i.e. uncertainty) in relation to describing aviation safety, financial or social risks. In the context of Covid-19 pandemic, uncertainty becomes a habit and the aviation industry has to confront and mitigate it. The study outlines the characteristics of risks under uncertainty, conditions for triggering risks and the importance of proper understanding of notions as an instrument for collaborative decision making and managerial success. After reviewing various studies, the authors differentiate the informally use of the two terms from the academic (formal) one and highlight the distinction between real and perceived risk influenced by uncertainty. Finally, a research on the limitations of different performance related indicators while dealing with unclear, imprecise or incomplete knowledge is achieved.