Climate change vulnerabilityClimate change vulnerability (or climate vulnerability or climate risk vulnerability) is a concept that describes how strongly people or ecosystems are likely to be affected by climate change. It is defined as the "propensity or predisposition to be adversely affected" by climate change. It can apply to humans and also to natural systems (or ecosystems). Related concepts include climate sensitivity and the ability, or lack thereof, to cope and adapt. Vulnerability is a component of climate risk.
Operational riskOperational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that can trigger operational risk. The process to manage operational risk is known as operational risk management.
Boundary element methodThe boundary element method (BEM) is a numerical computational method of solving linear partial differential equations which have been formulated as integral equations (i.e. in boundary integral form), including fluid mechanics, acoustics, electromagnetics (where the technique is known as method of moments or abbreviated as MoM), fracture mechanics, and contact mechanics. The integral equation may be regarded as an exact solution of the governing partial differential equation.
Structural loadA structural load or structural action is a force, deformation, or acceleration applied to structural elements. A load causes stress, deformation, and displacement in a structure. Structural analysis, a discipline in engineering, analyzes the effects of loads on structures and structural elements. Excess load may cause structural failure, so this should be considered and controlled during the design of a structure. Particular mechanical structures—such as aircraft, satellites, rockets, space stations, ships, and submarines—are subject to their own particular structural loads and actions.
MasonryMasonry is the craft of building a structure with brick, stone, or similar material, including mortar plastering which are often laid in, bound and pasted together by mortar; the term masonry can also refer to the building units (stone, brick, etc.) themselves. The common materials of masonry construction are bricks and building stone such as marble, granite, and limestone, cast stone, concrete blocks, glass blocks, and adobe. Masonry is generally a highly durable form of construction.
Probabilistic risk assessmentProbabilistic risk assessment (PRA) is a systematic and comprehensive methodology to evaluate risks associated with a complex engineered technological entity (such as an airliner or a nuclear power plant) or the effects of stressors on the environment (probabilistic environmental risk assessment, or PERA). Risk in a PRA is defined as a feasible detrimental outcome of an activity or action. In a PRA, risk is characterized by two quantities: the magnitude (severity) of the possible adverse consequence(s), and the likelihood (probability) of occurrence of each consequence.
Systematic riskIn finance and economics, systematic risk (in economics often called aggregate risk or undiversifiable risk) is vulnerability to events which affect aggregate outcomes such as broad market returns, total economy-wide resource holdings, or aggregate income. In many contexts, events like earthquakes, epidemics and major weather catastrophes pose aggregate risks that affect not only the distribution but also the total amount of resources. That is why it is also known as contingent risk, unplanned risk or risk events.
Relative riskThe relative risk (RR) or risk ratio is the ratio of the probability of an outcome in an exposed group to the probability of an outcome in an unexposed group. Together with risk difference and odds ratio, relative risk measures the association between the exposure and the outcome. Relative risk is used in the statistical analysis of the data of ecological, cohort, medical and intervention studies, to estimate the strength of the association between exposures (treatments or risk factors) and outcomes.
Liquidity riskLiquidity risk is a financial risk that for a certain period of time a given financial asset, security or commodity cannot be traded quickly enough in the market without impacting the market price. Market liquidity – An asset cannot be sold due to lack of liquidity in the market – essentially a sub-set of market risk.
BrickA brick is a type of construction material used to build walls, pavements and other elements in masonry construction. Properly, the term brick denotes a unit primarily composed of clay, but is now also used informally to denote units made of other materials or other chemically cured construction blocks. Bricks can be joined using mortar, adhesives or by interlocking. Bricks are usually produced at brickworks in numerous classes, types, materials, and sizes which vary with region, and are produced in bulk quantities.
