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.
Seismic retrofitSeismic retrofitting is the modification of existing structures to make them more resistant to seismic activity, ground motion, or soil failure due to earthquakes. With better understanding of seismic demand on structures and with our recent experiences with large earthquakes near urban centers, the need of seismic retrofitting is well acknowledged. Prior to the introduction of modern seismic codes in the late 1960s for developed countries (US, Japan etc.) and late 1970s for many other parts of the world (Turkey, China etc.
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.
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".
Seismic riskSeismic risk refers to the risk of damage to a building, system, or other entity from an earthquake. Seismic risk has been defined, for most management purposes, as the potential economic, social and environmental consequences of hazardous events that may occur in a specified period of time. A building located in a region of high seismic hazard is at lower risk if it is built to sound seismic engineering principles. On the other hand, a building located in a region with a history of minor seismicity, in a brick building located on fill subject to liquefaction can be as high or higher risk.
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.
Green buildingGreen building (also known as green construction or sustainable building) refers to both a structure and the application of processes that are environmentally responsible and resource-efficient throughout a building's life-cycle: from planning to design, construction, operation, maintenance, renovation, and demolition. This requires close cooperation of the contractor, the architects, the engineers, and the client at all project stages. The Green Building practice expands and complements the classical building design concerns of economy, utility, durability, and comfort.
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).
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 hazardA seismic hazard is the probability that an earthquake will occur in a given geographic area, within a given window of time, and with ground motion intensity exceeding a given threshold. With a hazard thus estimated, risk can be assessed and included in such areas as building codes for standard buildings, designing larger buildings and infrastructure projects, land use planning and determining insurance rates.
IT riskInformation technology risk, IT risk, IT-related risk, or cyber risk is any risk relating to information technology. While information has long been appreciated as a valuable and important asset, the rise of the knowledge economy and the Digital Revolution has led to organizations becoming increasingly dependent on information, information processing and especially IT. Various events or incidents that compromise IT in some way can therefore cause adverse impacts on the organization's business processes or mission, ranging from inconsequential to catastrophic in scale.
Reflection seismologyReflection seismology (or seismic reflection) is a method of exploration geophysics that uses the principles of seismology to estimate the properties of the Earth's subsurface from reflected seismic waves. The method requires a controlled seismic source of energy, such as dynamite or Tovex blast, a specialized air gun or a seismic vibrator. Reflection seismology is similar to sonar and echolocation. Reflections and refractions of seismic waves at geologic interfaces within the Earth were first observed on recordings of earthquake-generated seismic waves.
Spectral accelerationSpectral acceleration (SA) is a unit measured in g (the acceleration due to Earth's gravity, equivalent to g-force) that describes the maximum acceleration in an earthquake on an object – specifically a damped, harmonic oscillator moving in one physical dimension. This can be measured at (or specified for) different oscillation frequencies and with different degrees of damping, although 5% damping is commonly applied. The SA at different frequencies may be plotted to form a response spectrum.
Peak ground accelerationPeak ground acceleration (PGA) is equal to the maximum ground acceleration that occurred during earthquake shaking at a location. PGA is equal to the amplitude of the largest absolute acceleration recorded on an accelerogram at a site during a particular earthquake. Earthquake shaking generally occurs in all three directions. Therefore, PGA is often split into the horizontal and vertical components. Horizontal PGAs are generally larger than those in the vertical direction but this is not always true, especially close to large earthquakes.
Earthquake engineeringEarthquake engineering is an interdisciplinary branch of engineering that designs and analyzes structures, such as buildings and bridges, with earthquakes in mind. Its overall goal is to make such structures more resistant to earthquakes. An earthquake (or seismic) engineer aims to construct structures that will not be damaged in minor shaking and will avoid serious damage or collapse in a major earthquake. A properly engineered structure does not necessarily have to be extremely strong or expensive.
Seismic intensity scalesSeismic intensity scales categorize the intensity or severity of ground shaking (quaking) at a given location, such as resulting from an earthquake. They are distinguished from seismic magnitude scales, which measure the magnitude or overall strength of an earthquake, which may, or perhaps may not, cause perceptible shaking. Intensity scales are based on the observed effects of the shaking, such as the degree to which people or animals were alarmed, and the extent and severity of damage to different kinds of structures or natural features.
ProjectA project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system (work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints.
Seismic refractionSeismic refraction is a geophysical principle governed by Snell's Law of refraction. The seismic refraction method utilizes the refraction of seismic waves by rock or soil layers to characterize the subsurface geologic conditions and geologic structure. Seismic refraction is exploited in engineering geology, geotechnical engineering and exploration geophysics. Seismic refraction traverses (seismic lines) are performed using an array of seismographs or geophones and an energy source.
Requirements analysisIn systems engineering and software engineering, requirements analysis focuses on the tasks that determine the needs or conditions to meet the new or altered product or project, taking account of the possibly conflicting requirements of the various stakeholders, analyzing, documenting, validating and managing software or system requirements. Requirements analysis is critical to the success or failure of a systems or software project.cite book |editor1= Alain Abran |editor2=James W.
Risk perceptionRisk perception is the subjective judgement that people make about the characteristics and severity of a risk. Risk perceptions often differ from statistical assessments of risk since are affected by a wide range of affective (emotions, feelings, moods, etc.), cognitive (gravity of events, media coverage, risk-mitigating measures, etc.), contextual (framing of risk information, availability of alternative information sources, etc.), and individual (personality traits, previous experience, age, etc.) factors.
