One of the historical examples of an engineering project that was extremely risky, but the benefits outweighed the risk, was the development of nuclear technology. The risk of developing nuclear technology is extremely high in terms of associated costs, storage of radioactive wastes, and the danger of nuclear devices falling into the hands of bad people. However, the benefits are significantly great in terms of research and development in the treatment of cancer and other diseases and in the production of cheaper electricity. Because of the low cost of electricity from nuclear reactors for domestic and industrial use, the benefits cannot be calculated when compared with the use of organic sources of energy to produce electricity, which has caused significant environmental problems. The reason for choosing this example is based on the type of risks associated with nuclear technology and the associated benefits.
One historical example where risk ultimately did not outweigh the benefits includes the invention and use of asbestos as a building material. The risks associated with the use of asbestos include the serious health hazards in humans who are occupationally exposed to asbestos. Other risks include the progressive development of breathing problems in humans. The benefits gained from the use of asbestos include its application in the construction of brake pad linings, clutch plates, fire blankets, insulating roofing tiles, and the construction of thermally resistant materials. The reasons for choosing this material are the arguments that are for the use of asbestos and against the use of asbestos in different industries and associated health risks.