Risk-Benefit Assessment

Risk-benefit assessment is a process used to evaluate whether the potential advantages of a decision, action, or product outweigh its possible risks or drawbacks. It involves identifying potential harms and benefits, then comparing them to determine if the benefits justify taking the associated risks. This approach helps organizations and individuals make informed, balanced choices by considering all relevant factors, ensuring safety and effectiveness while minimizing unnecessary dangers. It’s commonly used in healthcare, technology, and policy-making to promote well-being and safety.