Risk Assessment

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.