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Risk assessment includes both risk estimation (identifying hazards and estimating their outcomes and probabilities) and risk evaluation (determining the significance or value of risks to those concerned with or affected by the decision). Risk estimation is about situations, and risk evaluation about the effect on people. Few situations are absolutely safe. Risks need to be estimated, and for many kinds of risk (e.g., exposures to potentially toxic substances or to potentially catastrophic situations) an expert view has to be formed, which must take account of associated uncertainties. Different sections of the public perceive risk in different ways, and regard some risks more seriously than the expert estimates....
All the growth-oriented sectors in a developing economy consume enormous energy in their production processes. Steel, aluminium and cement are the key manufacturing industries in India which provide inputs to various other sectors such as construction, transportation, power transmission, etc. As a result, their demand is consistently rising. These industries are heavily energy-intensive and use raw materials such as iron ore, coal, electricity, steam, and fuel oil, whose supply can act as severe production constraints over a period of time and can hinder sustainable development. Hence it becomes imperative for these industries to continuously innovate more energy efficient techniques. This paper makes a foray into...