Risk Tolerance or "acceptance" can be a contributing factor in 1/3 to 1/2 of all incidents. Risk Tolerance is the willingness of a worker or a group of workers to take risks. The ExxonMobil Human Factors Centre of Excellence researched this topic and has identified 10 factors that influence individual and group decisions on how much risk is acceptable. The belief that the amount of risk is acceptable and that the outcome will not be harmful is rooted in the Ten Factors That Influence Risk Tolerance. The results of the research have identified the factors that influence risk taking in the work place and in off the job situations. In turn this helps all of us recognize the risk tolerance signs in our work groups and in ourselves. Thus we can provide guidance on how to address the factors to reduce the acceptance of risk.
The research identified that there are three processes which occur in the human brain when it comes to assessing a hazard and determining if the hazard will present an unacceptable risk. The key processes involved in Risk Tolerance are:
Hazard Identification – the visual identification of a situation that could lead to risk. "Do I see it?"
Risk Perception - the processing of the visual information gathered to determine exactly how and to what extent it could impact our wellbeing. "Do I understand that it was a risk?"
Risk Tolerance – the cognitive process of deciding to proceed with the task or activity, change how we do it or not do it at all. "Do I accept or reject the risk?"
The following model represents how the three processes of hazard recognition, risk perception and risk tolerance are related.
