Risk-Informed Decision Making (RIDM)

GZA uses Risk-Informed Decision Making (RIDM) as the foundation of our risk management services. RIDM involves making a risk management decision supported by:

1) an analysis of risk including characterization of the hazard and its likelihood (probability) of occurrence; and 2) an assessment of the impacts of the hazard, which can include financial loss, loss of life, disruption of business, etc.   RIDM provides a basis for understanding risks, evaluating benefits versus costs, and ranking and prioritizing alternatives.