Task 5: Conduct Risk Assessment – Description

Task 5: Conduct Risk Assessment

Defining Risk Assessment

As per the hazard mitigation planning, the risk is potential for loss, damage, or other impacts caused by natural hazards (e.g. earthquakes, floods, and tornados) to community assets. The interaction of natural hazards with community people, property, and other assets can lead to disasters. The impact severity and type depend on the scope of the hazard and the susceptibility of your community assets, as well as the capability of your community to mitigate, respond to, prepare for, and recuperate from the disaster events.

Terms of Risk Assessment:
• Natural hazard: Harm caused by a geological, environmental, or meteorological event.
• Community assets: People, facilities, structures, and systems.
• Vulnerability: Features of community assets that make them vulnerable to damage due to a disaster event.
• Impact: The effects or outcomes of a disaster on the community and its assets.
• Risk: The likelihood of loss, damage, or other impacts caused due to the interaction of natural hazards with community people, property, and other assets.
• Risk Evaluation: It’s the process of collecting information and assigning values to risks in order to notify priorities, develop or appraise courses of action, and notify decision making.
• Human-caused Threat: Premeditated actions of an enemy or rival, for example, a real or threatened cyber, biological or chemical attack.