Risk Assessment: Tools, Techniques and Applications

Risk assessment is the combined effort of hazard analysis and risk evaluation. It determines possible mishaps, their likelihood and consequences. Hazard analysis involves identifying and analyzing potential events that may negatively impact individuals, assets or the environment. On the basis of scale, it can be classified into individual risk assessment and systems risk assessment. Individual risk assessment can be affected by ideological, psychological or religious factors. Systems risk assessment focuses on large systems. These systems can be categorized into linear and non-linear systems. A wide range of fields commonly apply risk management procedures. These may have particular legal requirements, codes of practice, and standardized measures. This book discusses the fundamentals as well as modern approaches of risk management. Most of the topics introduced here elucidate new tools, techniques and their applications in a multidisciplinary manner. This book is a vital tool for all researching and studying this field.