IRGC Model: Understanding and Managing Risks Impacting Economy and Society

The Need to Use the IRGC Model

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Question

You work as a project manager for BlueWell Inc.

You are involved with the project team on the different risk issues in your project.

You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society.

One of your team members wants to know that what the need to use the IRGC is.

What will be your reply?

Answers

Explanations

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A. B. C. D.

A.

IRGC is aimed at building robust, integrative inter-disciplinary governance models for emerging and existing risks.

The International Risk Governance Council (IRGC) is a self-governing organization whose principle is to facilitate the understanding and managing the rising overall risks that have impacts on the economy and society, human health and safety, the environment at large.

IRGC's effort is to build and develop concepts of risk governance, predict main risk issues and present risk governance policy recommendations for the chief decision makers.

IRGC mainly emphasizes on rising, universal risks for which governance deficits exist.

Its goal is to present recommendations for how policy makers can correct them.

IRGC models at constructing strong, integrative inter-disciplinary governance models for up-coming and existing risks.

Incorrect Answers: B: As IRGC is aimed at building robust, integrative inter-disciplinary governance models for emerging and existing risks, so it is the best answer for this question.

C, D: Risk governance addresses understanding of the secondary impacts of a risk, the development of resilience and the capacity of organizations and people to face unavoidable risks.

The IRGC (International Risk Governance Council) is a model that aims to facilitate the understanding and management of emerging and existing risks that have impacts on the economy and society. The IRGC model is based on the principle that risk governance should be transparent, participatory, and accountable, and that it should be based on the best available scientific evidence.

The IRGC model is both a concept and a tool. As a concept, it is focused on building robust, integrative, inter-disciplinary governance models for emerging and existing risks. This means that the IRGC model takes into account multiple perspectives, including scientific, social, economic, and cultural perspectives, to develop a comprehensive understanding of the risks and their impacts.

As a tool, the IRGC model provides a framework for understanding and managing risks that can be applied in different contexts, including project management. The IRGC model is designed to help project teams identify and evaluate risks, and to develop strategies to manage those risks.

One of the key benefits of using the IRGC model is that it addresses the development of resilience and the capacity of organizations and people to face unavoidable risks. This means that the IRGC model helps project teams to develop strategies that can reduce the impact of risks on the project and on society, and to build the capacity to respond effectively to future risks.

Another important aspect of the IRGC model is that it addresses the understanding of the secondary impacts of a risk. This means that the model takes into account not only the direct impacts of a risk, but also the indirect impacts, such as economic, social, and environmental impacts, that can occur as a result of the risk.

Overall, the IRGC model provides a comprehensive framework for understanding and managing risks that have impacts on the economy and society. By using the IRGC model, project teams can develop strategies that are based on the best available scientific evidence, that take into account multiple perspectives, and that aim to build resilience and capacity to face future risks.