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(Probabilistic) Risk
Definition
The consideration of all possible scenarios, their likelihood, and associated impacts. This method contains the idea of uncertainty because it incorporates the concept of randomness.
Source
PreventionWeb (2015). Deterministic and probabilistic risk.
Available at: https://www.preventionweb.net/understanding-disaster-risk/key-concepts/deterministic-probablistic-risk
OECD (2012). Disaster Risk Assessment and Risk Financing A G20/OECD Methodological Framework.
Available at: https://www.preventionweb.net/publication/g20/oecd-methodological-framework-disaster-risk-assessment-and-risk-financing
See also: Disaster Risk, Disaster Risk Reduction, Scenario, (Current) Scenario, (Future) Scenario, (Deterministic) Risk
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