PAP3902 Lecture Notes - Lecture 7: Nuclear Power Plant, Organizational Learning, Financial Intelligence

• School: University of Ottawa
• Department: Public Administration
• Course: PAP3902
• Professor: Vlasios Melansakis

Document Summary

Risk based regulation: all about the control of risks. It goes back to the budget and deficit cutting era of 1980-90s. of course we always faced budget constraints, but now being as to do more with less resources. So they have to find new ways of addressing this issue. All about efficient regulation good regulation with a predetermined budget/resources. You will inevitably be limited to the experts that you have. So how do you use this limited expertise: a(cid:374)d as (cid:455)ou"(cid:448)e see(cid:374) (cid:374)e(cid:449) (cid:271)ooks fo(cid:272)usi(cid:374)g o(cid:374) ho(cid:449) to (cid:396)egulate (cid:373)o(cid:396)e effe(cid:272)ti(cid:448)el(cid:455) a(cid:374)d efficiently, it has brought risk based regulation to the core, what is it, 3 step process. Involves analysis, in-depth, finding the risk, identifying it and then assessing it. You pick those on set criteria: then you target them, you put your resources to those 5. Means you leave the other 25 relatively unattended.