What is the process of weighing the possible problems of a technology against its expected advantages called?

The process of weighing the possible problems of a technology against its expected advantages is called risk-benefit analysis. This analysis involves assessing the potential risks, such as negative health effects, environmental impact, or economic costs, alongside the benefits that the technology might bring, such as improved efficiency, health outcomes, or profit.

In a risk-benefit analysis, the goal is to understand whether the expected benefits outweigh the potential risks, guiding decision-makers in determining whether the technology should be developed or implemented. This method is crucial in various fields, including healthcare, environmental science, and engineering, ensuring that the decisions made are informed and balanced.

While cost-benefit analysis also looks at pros and cons, it primarily focuses on financial implications rather than the broader spectrum of risks. Project evaluation and impact assessment can include aspects of risk and benefits but are generally broader in scope, encompassing various evaluations of a project’s overall effectiveness or its broader impacts rather than strictly weighing risks against benefits.