Risk analysis has a primary function of aggregating the results
of hazard analysis (physical impact) with parameters for damage
evaluation (exposure and vulnerability). Based upon the study
scenario and the predicted impact, the risk analysis will evaluate
the likely effects in terms of short and long term economic loss,
losses on buildings, infrastructure, casualties etc.
Risk analysis identifies areas and installations particularly
sensitive towards natural hazards. Moreover, it is the main
workbench for evaluating proposed mitigation strategies, emergency
preparedness, response, recovery planning and insurance schemes.
Usually the risk is summarized in maps indicating the spatial
distribution of risk or aggregated as PML curves.