Managing the Risk of Fireworks

The Fourth of July is a great opportunity to talk about risk management.  Setting off fireworks at home is a popular entertainment, but it is dangerous, as the press reminds us every year: http://www.washingtonpost.com/blogs/govbeat/wp/2015/07/03/here-are-photos-of-all-the-horrific-ways-fireworks-can-maim-or-kill-you/

After assessing the risk, how can one mitigate it?  Here are the basic approaches:  (1) avoiding the risk by abandoning the planned action or eliminating the root cause or the consequences, (2) reducing the likelihood of the root cause or decreasing its consequences by modifying the planned action or performing preventive measures, (3) transferring the risk to another organization, or (4) assuming (accepting) the risk without mitigating it.

How would these apply to fireworks at home?
1. Avoid the risk: don't do it.  Go to a fireworks show or watch one on TV or find something else to do.
2. Reduce the risk: stick to sparklers and party poppers and follow safety guidelines (like these from http://www.cpsc.gov/safety-education/safety-education-centers/fireworks/): keep fireworks away from brush and other substances that can burn, don't let children play with fireworks, keep a bucket of water handy to douse the fireworks or anything that catches fire.
3. Transfer the risk: hire a professional (or other trained expert) to do a fireworks show at your place, or let a neighbor run the show while you and your family watch from a safe distance.
4. Accept the risk: indulge in the tradition!

The relative desirability of these options depends upon how much you like fireworks and how much risk you're willing to accept.

Have a Happy Fourth of July!