Disaster risk reductionDisaster risk reduction (DRR) sometimes called disaster risk management (DRM) is a systematic approach to identifying, assessing and reducing the risks of disaster. It aims to reduce socio-economic vulnerabilities to disaster as well as dealing with the environmental and other hazards that trigger them.
Enterprise risk managementEnterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives (threats and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process.
Financial riskFinancial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Harry Markowitz in 1952 with his article, "Portfolio Selection".
Engineering managementEngineering management is the application of the practice of management to the practice of engineering. Engineering management is a career that brings together the technological problem-solving ability of engineering and the organizational, administrative, legal and planning abilities of management in order to oversee the operational performance of complex engineering-driven enterprises. A Master of Engineering Management (MEM) is sometimes compared to a Master of Business Administration (MBA) for professionals seeking a graduate degree as a qualifying credential for a career in engineering management.
Senior managementSenior management, executive management, upper management, or a management is generally individuals at the highest level of management of an organization who have the day-to-day tasks of managing that organization—sometimes a company or a corporation. Executive managers hold powers delegated to them with and by authority of a board of directors and/or the shareholders. Generally, higher levels of responsibility exist, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior or executive management instead of on the day-to-day activities of the business.
Apparent magnitudeApparent magnitude (m) is a measure of the brightness of a star or other astronomical object. An object's apparent magnitude depends on its intrinsic luminosity, its distance, and any extinction of the object's light caused by interstellar dust along the line of sight to the observer. The word magnitude in astronomy, unless stated otherwise, usually refers to a celestial object's apparent magnitude. The magnitude scale dates back to the ancient Roman astronomer Claudius Ptolemy, whose star catalog listed stars from 1st magnitude (brightest) to 6th magnitude (dimmest).
Magnitude (astronomy)In astronomy, magnitude is measure of the brightness of an object, usually in a defined passband. An imprecise but systematic determination of the magnitude of objects was introduced in ancient times by Hipparchus. Magnitude values do not have a unit. The scale is logarithmic and defined such that a magnitude 1 star is exactly 100 times brighter than a magnitude 6 star. Thus each step of one magnitude is times brighter than the magnitude 1 higher.
Absolute magnitudeAbsolute magnitude (M) is a measure of the luminosity of a celestial object on an inverse logarithmic astronomical magnitude scale. An object's absolute magnitude is defined to be equal to the apparent magnitude that the object would have if it were viewed from a distance of exactly , without extinction (or dimming) of its light due to absorption by interstellar matter and cosmic dust. By hypothetically placing all objects at a standard reference distance from the observer, their luminosities can be directly compared among each other on a magnitude scale.
Frequency (statistics)In statistics, the frequency or absolute frequency of an event is the number of times the observation has occurred/recorded in an experiment or study. These frequencies are often depicted graphically or in tabular form. The cumulative frequency is the total of the absolute frequencies of all events at or below a certain point in an ordered list of events. The relative frequency (or empirical probability) of an event is the absolute frequency normalized by the total number of events: The values of for all events can be plotted to produce a frequency distribution.
Risk premiumA risk premium is a measure of excess return that is required by an individual to compensate being subjected to an increased level of risk. It is used widely in finance and economics, the general definition being the expected risky return less the risk-free return, as demonstrated by the formula below. Where is the risky expected rate of return and is the risk-free return. The inputs for each of these variables and the ultimate interpretation of the risk premium value differs depending on the application as explained in the following sections.
Limiting magnitudeIn astronomy, limiting magnitude is the faintest apparent magnitude of a celestial body that is detectable or detected by a given instrument. In some cases, limiting magnitude refers to the upper threshold of detection. In more formal uses, limiting magnitude is specified along with the strength of the signal (e.g., "10th magnitude at 20 sigma"). Sometimes limiting magnitude is qualified by the purpose of the instrument (e.g., "10th magnitude for photometry") This statement recognizes that a photometric detector can detect light far fainter than it can reliably measure.
Interpretations of quantum mechanicsAn interpretation of quantum mechanics is an attempt to explain how the mathematical theory of quantum mechanics might correspond to experienced reality. Although quantum mechanics has held up to rigorous and extremely precise tests in an extraordinarily broad range of experiments, there exist a number of contending schools of thought over their interpretation. These views on interpretation differ on such fundamental questions as whether quantum mechanics is deterministic or stochastic, local or non-local, which elements of quantum mechanics can be considered real, and what the nature of measurement is, among other matters.
