Number: RL33500
Title: OMB and Risk Assessment
Authors: Curtis W. Copeland, Government and Finance Division 
Abstract: On January 9, 2006, the Office of Management and Budget (OMB) released a proposed bulletin on risk assessment for comment by the public and peer review by the National Academy of Sciences (NAS). Risk assessment is used by federal agencies to determine whether a potential hazard exists and/or the extent of possible risk to human health, safety, or the environment. In a regulatory context, risk assessment helps agencies identify issues of potential concern (e.g., whether exposure to a given risk agent causes effects such as cancer, reproductive and genetic abnormalities, or ecosystem damage), select regulatory options, and estimate a forthcoming regulation's benefits.
Pages: 11
Date: March 14, 2008