A Framework for Risk Assessment

Risk is a composite concept: it is the product of the probability that an event will take place (usually that something will go wrong) and the (negative) effect it will have if it does take place. In general, risk abatement within engineering is concerned with minimising both components, with the balance of effort being determined by cost-effectiveness. Risk assessment is the action (or inaction) taken to address the risk issues identified and evaluated in the assessment and analysis efforts, generally with a view to containing or reducing the risk. While the private sector may enhance management by controlling risk, it is more difficult for the public sector to do the same with their shareholders (population), as the risks relate to other sectors, mainly infrastructure. This paper presents a risk assessment framework to address the multiple goals of disaster risk reduction in order to be coherent with the planning of social and economic development, providing a design concept for the development of risk management policies. The legal basis for risk reduction policies is critical for transparent decision-making and allocating public funding for disaster mitigation. Risk management actually takes place on three different levels: (1) Before the disaster – planning, drills and communication (2) During the event – communication, operations associated with the operation of existing systems (3) After the disaster – assessment and reconstruction. Lessons learnt for starting all over.