Suppose you are the chief risk officer in a multinational mining company. Some of your risk analysts say there is a considerable risk related to the working environment in one of the mines. Besides heat, humidity and darkness, the workers are exposed to a fine grained type of dust, which may cause cancer. To meet this risk, one option is to install a vent system which removes the fine grained dust. This is expected to cost 40 mill dollars and is expected to save 10 lives during the lifetime of the mine.

A) How would you decide upon whether to install the vent system using ICAF? Make assumptions as necessary

B) What are the advantages and disadvantages of using this approach?