RiskIn simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is "effect of uncertainty on objectives".
Through arch bridgeA through arch bridge, also known as a through-type arch bridge, is a bridge that is made from materials such as steel or reinforced concrete, in which the base of an arch structure is below the deck but the top rises above it. It can either be lower bearing or mid-bearing. Thus, the deck is within the arch, and cables or beams that are in tension suspend the central part of the deck from the arch. For a specific construction method, especially for masonry arches, the proportions of the arch remain similar no matter what the size: wider arches are thus required to be taller arches.
Risk assessmentRisk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. More precisely, risk assessment identifies and analyses potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis).
Risk managementRisk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Structural analysisStructural analysis is a branch of solid mechanics which uses simplified models for solids like bars, beams and shells for engineering decision making. Its main objective is to determine the effect of loads on the physical structures and their components. In contrast to theory of elasticity, the models used in structure analysis are often differential equations in one spatial variable. Structures subject to this type of analysis include all that must withstand loads, such as buildings, bridges, aircraft and ships.
Structural engineeringStructural engineering is a sub-discipline of civil engineering in which structural engineers are trained to design the 'bones and muscles' that create the form and shape of human-made structures. Structural engineers also must understand and calculate the stability, strength, rigidity and earthquake-susceptibility of built structures for buildings and nonbuilding structures. The structural designs are integrated with those of other designers such as architects and building services engineer and often supervise the construction of projects by contractors on site.
Arch bridgeAn arch bridge is a bridge with abutments at each end shaped as a curved arch. Arch bridges work by transferring the weight of the bridge and its loads partially into a horizontal thrust restrained by the abutments at either side. A viaduct (a long bridge) may be made from a series of arches, although other more economical structures are typically used today. List of Roman bridgesList of medieval stone bridges in Germany and List of medieval bridges in France Possibly the oldest existing arch bridge is the Mycenaean Arkadiko Bridge in Greece from about 1300 BC.
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.
Structural integrity and failureStructural integrity and failure is an aspect of engineering that deals with the ability of a structure to support a designed structural load (weight, force, etc.) without breaking and includes the study of past structural failures in order to prevent failures in future designs. Structural integrity is the ability of an item—either a structural component or a structure consisting of many components—to hold together under a load, including its own weight, without breaking or deforming excessively.
ArchAn arch is a vertical curved structure that spans an elevated space and may or may not support the weight above it, or in case of a horizontal arch like an arch dam, the hydrostatic pressure against it. Arches may be synonymous with vaults, but a vault may be distinguished as a continuous arch forming a roof. Arches appeared as early as the 2nd millennium BC in Mesopotamian brick architecture, and their systematic use started with the ancient Romans, who were the first to apply the technique to a wide range of structures.
Structural engineerStructural engineers analyze, design, plan, and research structural components and structural systems to achieve design goals and ensure the safety and comfort of users or occupants. Their work takes account mainly of safety, technical, economic, and environmental concerns, but they may also consider aesthetic and social factors. Structural engineering is usually considered a specialty discipline within civil engineering, but it can also be studied in its own right.
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".
Seismic analysisSeismic analysis is a subset of structural analysis and is the calculation of the response of a building (or nonbuilding) structure to earthquakes. It is part of the process of structural design, earthquake engineering or structural assessment and retrofit (see structural engineering) in regions where earthquakes are prevalent. As seen in the figure, a building has the potential to 'wave' back and forth during an earthquake (or even a severe wind storm). This is called the 'fundamental mode', and is the lowest frequency of building response.
Occupational safety and healthOccupational safety and health (OSH) or occupational health and safety (OHS), also known simply as occupational health or occupational safety, is a multidisciplinary field concerned with the safety, health, and welfare of people at work (i.e. in an occupation). These terms also refer to the goals of this field, so their use in the sense of this article was originally an abbreviation of occupational safety and health program/department etc. OSH is related to the fields of occupational medicine and occupational hygiene.
Limit state designLimit State Design (LSD), also known as Load And Resistance Factor Design (LRFD), refers to a design method used in structural engineering. A limit state is a condition of a structure beyond which it no longer fulfills the relevant design criteria. The condition may refer to a degree of loading or other actions on the structure, while the criteria refer to structural integrity, fitness for use, durability or other design requirements.
BridgeA bridge is a structure built to span a physical obstacle (such as a body of water, valley, road, or railway) without blocking the way underneath. It is constructed for the purpose of providing passage over the obstacle, which is usually something that is otherwise difficult or impossible to cross. There are many different designs of bridges, each serving a particular purpose and applicable to different situations.
Catastrophic failureA catastrophic failure is a sudden and total failure from which recovery is impossible. Catastrophic failures often lead to cascading systems failure. The term is most commonly used for structural failures, but has often been extended to many other disciplines in which total and irrecoverable loss occurs, such as a head crash occurrence on a hard disk drive. Such failures are investigated using the methods of forensic engineering, which aims to isolate the cause or causes of failure.
Service lifeA product's service life is its period of use in service. Several related terms describe more precisely a product's life, from the point of manufacture, storage, and distribution, and eventual use. Service life has been defined as "a product's total life in use from the point of sale to the point of discard" and distinguished from replacement life, "the period after which the initial purchaser returns to the shop for a replacement".
Foreign exchange riskForeign exchange risk (also known as FX risk, exchange rate risk or currency risk) is a financial risk that exists when a financial transaction is denominated in a currency other than the domestic currency of the company. The exchange risk arises when there is a risk of an unfavourable change in exchange rate between the domestic currency and the denominated currency before the date when the transaction is completed. Foreign exchange risk also exists when the foreign subsidiary of a firm maintains financial statements in a currency other than the domestic currency of the consolidated entity.
Risk aversionIn economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average outcome of the latter is equal to or higher in monetary value than the more certain outcome. Risk aversion explains the inclination to agree to a situation with a more predictable, but possibly lower payoff, rather than another situation with a highly unpredictable, but possibly higher payoff.
