Risk Assessment/Vulnerability

Abstract

Risk assessment analysis is determined for specific locations/regions with a history of being targeted by one or more primary hazards or triggered events, the probability of recurrence, the magnitude, the frequency of occurrence in a damaging/destructive magnitude range, and the projected estimates of injury, deaths, and damage and destruction. What must be also be factored in to risk assessments are the control of infectious disease and diarrhea illnesses, and mental health needs. Risk assessment analysis establishes the socio-economic value of risk related to a specific hazard (and triggered events), or injury or death in a human population and other organisms, and damage to the environment if a hazard and its effects cannot be lessened. Risk can be evaluated in a multi-step process. The first step is to identify hazard(s) and triggered destructive events they may generate and to map their intensity and the extent of their reach. A second is to catalogue the human and economic assets to be protected in an area. The third is to estimate the potential losses of life, magnitude of personal injury, damage to an economy (property loss, loss of employment, loss of tax revenue), and loss of social services expected from a hazard. Risk assessors estimate financial costs to restore conditions that can better withstand a disaster, and/or medical/death payouts to both the insured and uninsured (e.g., government grants, no cost or low cost loans). The fourth step is to determine the probability that a hazard with a specific magnitude range will occur in a given time frame.