{"id":116,"date":"2021-04-12T01:39:47","date_gmt":"2021-04-12T05:39:47","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/financialimpactclimatechange\/?post_type=chapter&p=116"},"modified":"2021-07-05T23:15:50","modified_gmt":"2021-07-06T03:15:50","slug":"light-touch-approaches","status":"publish","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/financialimpactclimatechange\/chapter\/light-touch-approaches\/","title":{"raw":"Light-touch approaches","rendered":"Light-touch approaches"},"content":{"raw":"
\r\n\r\nThough each of the methods described above require some amount of technical competency to implement, Watkiss and Cimato (2016) observe that many planners\u2014without fully implementing these methods\u2014use each approach to inform the way they approach decision-making under uncertainty. Watkiss and Cimato call this the \u201clight touch approach\u201d.\r\n\r\nThe table below provides a few examples of how each method can \u201clightly\u201d be incorporated into thinking to improve decision-making.\r\n
\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

Method<\/b><\/p>\r\n<\/td>\r\n

\r\n

Light-touch approach<\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

Real options<\/strong><\/td>\r\n\r\n
    \r\n \t
  • Consider \u201cfoothold\u201d activities that open up potential to develop a new line of strategy in the future<\/li>\r\n \t
  • Explicitly consider trade-offs between \u201call-in\u201d strategies and strategies that preserve the capacity to make choices in the future<\/li>\r\n \t
  • Use decision-tree structures to think through a dynamic decision-problem qualitatively<\/li>\r\n \t
  • Trace out possible outcomes and decision points to assist in making dynamic choices<\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>\r\n
Adaptation Pathways<\/strong><\/td>\r\n\r\n
    \r\n \t
  • Identify near-term actions and future contingencies<\/li>\r\n \t
  • Prioritize options on the basis of timing and phasing<\/li>\r\n \t
  • Understand failure points (tipping points) and identify watchpoints that indicate failure points are nearing<\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>\r\n
Robust decision making<\/strong><\/td>\r\n\r\n