Risk Management 42
Risk Management 42 : A structured approach to manage uncertainty and potential losses through a process of risk assessment and the development of strategies and specific actions to control and reduce risks. Comment: In the field of disasters, risk management strategies include avoiding the risk (prevention), reducing the negative effect of the risk (mitigation), transferring the risk to another party (insurance), and accepting some or all of the consequences of a particular risk (retained risk). In some key sectors affected by natural hazards, such as water supply, energy, agriculture and transportation, risk management may a core element of business activity owing to the potential for both gains and losses. (ISDR)
No records Found