Conducting a risk-benefit analysis involves a structured approach:
Data Collection: Gathering information on both the potential risks and benefits. This includes scientific studies, clinical trials, and real-world data.
Quantitative and Qualitative Analysis: Utilizing statistical models and expert judgment to evaluate risks and benefits. Quantitative analysis may involve dose-response modeling, while qualitative analysis may consider factors like public perception and ethical considerations.
Comparison and Weighing: Comparing the magnitude of risks and benefits. In some cases, risks and benefits may be directly compared, while in others, a risk-benefit ratio may be calculated.
Decision-Making: Based on the analysis, decisions are made regarding the approval, restriction, or prohibition of a substance. This step often involves regulatory agencies and can include stakeholder input.
