Risk managers increasingly face having to justify their decisions in allocating limited resources. These decisions may include prioritizing hazards, determining appropriate levels of safety, and identifying and selecting optimal risk reduction strategies. These decisions require making choices among alternatives, choices that may be difficult because they invariably involve trade-offs. Integrating risk assessment and economic analyses can aid decision making by determining the benefits and costs of alternative actions. Risk assessment and economic analysis provide the measurement tools that will facilitate intelligent, informed, risk management and will enable effective and efficient resource allocation decisions.