ABSTRACT
This chapter presents three cases which will be used to illustrate the coming discussions about risk science concepts, principles, approaches, methods and models. These cases relate to the individual, organizational and societal level, respectively. The first concerns a student’s personal and academic lifestyle, the second a company considering some investments and the third a pandemic. A student in a highly competitive academic program is facing a common issue encountered by almost all students: the 24-hour day. While balancing the objectives is a challenge for any person, the risk management implications are unique for a student in an academically rigorous environment. For large or bulky items that are considered low volume, Total Business Management Inc. (TBM) typically contracts with manufacturers to ship products directly from the manufacturer’s warehousing facility. In response to the challenges in working with shipping vendors, TBM considers building up its own supply chain capabilities.
