Risk Treatment
Contents
Definitions
Official European Definition
Other International Definitions
UNISDR
[1].
The concept and practice of reducing disaster
risks through systematic efforts to analyse
and manage the causal factors of disasters,
including through reduced exposure to
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hazards, lessened vulnerability of people and
property, wise management of land and the
environment, and improved preparedness for
adverse events.
Comment: A comprehensive approach to reduce
disaster risks is set out in the United Nations-endorsed
Hyogo Framework for Action, adopted in 2005, whose
expected outcome is “The substantial reduction of
disaster losses, in lives and the social, economic and
environmental assets of communities and countries.”
The International Strategy for Disaster Reduction (ISDR)
system provides a vehicle for cooperation among
Governments, organisations and civil society actors to
assist in the implementation of the Framework. Note
that while the term “disaster reduction” is sometimes
used, the term “disaster risk reduction” provides a
better recognition of the ongoing nature of disaster
risks and the ongoing potential to reduce these risks.
National Definitions
USA
Decrease in risk through risk avoidance, risk control or risk transfer. (Source: DHS Lexicon, 2010)
[2].
Standard Definition
ISO/IEC 27000:2014
process (2.61) to modify risk (2.68)risk[3](based on the ISO Guide 73:2009[4]) .
Risk treatment can involve:
- avoiding the risk by deciding not to start or continue with the activity that gives rise to the risk;
- taking or increasing risk in order to pursue an opportunity;
- removing the risk source;
- changing the likelihood;
- changing the consequences;
- sharing the risk with another party or parties (including contracts and risk financing) (see Risk Transfer); and
- retaining the risk by informed choice.
Risk treatments that deal with negative consequences are sometimes referred to as “risk mitigation”, “risk elimination”, “risk prevention” and “risk reduction”.
Risk treatment can create new risks or modify existing risks.
