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Simple to calculate: In simple cases, manual computing can be used to calculate a basic score (although some scores use rely on more sophisticated or less transparent calculations that require a computer program). Easily interpreted: The result of the calculation is a single number, with a higher score usually means higher risk.
The concept has been extended and applied in dealing with risk from natural hazards and the part that population metrics play in making such a situation into a disaster. In the USA this has been done at a county level. And is run by the Hazards and Vulnerability Research Institute [20] since 2003.
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
The primary goal of CVSS is to provide a deterministic and repeatable way to score the severity of a vulnerability across many different constituencies, allowing consumers of CVSS to use this score as input to a larger decision matrix of risk, remediation, and mitigation specific to their particular environment and risk tolerance.
Disaster risk reduction (DRR) is action taken to "[reduce] existing disaster risk and [manage] residual risk." [7] DRR plans aim to decrease the amount of disaster response necessary by planning ahead and making communities resilient to any potential hazardous events that might occur. [7]
Disaster risk is the potential loss of life, injury, or destroyed or damaged assets that could impact a society or community. Disaster risk results from the interaction of three factors: hazard(s), vulnerability and exposure. [2]: 14 This is illustrated in the risk equation.
"World Bank's Hazard Risk Management". World Bank. Archived from the original on 2010-04-09 "Disaster News Network". Archived from the original on 2006-11-05 US news site focused on disaster-related news. "EM-DAT International Disaster Database". Archived from the original on 2008-08-11
The yearly issues of the WorldRiskReport focus on varying critical topics related to disaster risk management and are published in German and English. The report includes the WorldRiskIndex , which identifies the risk of an extreme natural event becoming a disaster for 181 countries worldwide.