Geological hazardA geologic hazard or geohazard is an adverse geologic condition capable of causing widespread damage or loss of property and life. These hazards are geological and environmental conditions and involve long-term or short-term geological processes. Geohazards can be relatively small features, but they can also attain huge dimensions (e.g., submarine or surface landslide) and affect local and regional socio-economics to a large extent (e.g., tsunamis).
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.
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".
HazardA hazard is a potential source of harm. Substances, events, or circumstances can constitute hazards when their nature would allow them, even just theoretically, to cause damage to health, life, property, or any other interest of value. The probability of that harm being realized in a specific incident, combined with the magnitude of potential harm, make up its risk, a term often used synonymously in colloquial speech.
Hazard analysisA hazard analysis is used as the first step in a process used to assess risk. The result of a hazard analysis is the identification of different types of hazards. A hazard is a potential condition and exists or not (probability is 1 or 0). It may, in single existence or in combination with other hazards (sometimes called events) and conditions, become an actual Functional Failure or Accident (Mishap). The way this exactly happens in one particular sequence is called a scenario.
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).
RockfallA rockfall or rock-fall is a quantity/sheets of rock that has fallen freely from a cliff face. The term is also used for collapse of rock from roof or walls of mine or quarry workings. "A rockfall is a fragment of rock (a block) detached by sliding, toppling, or falling, that falls along a vertical or sub-vertical cliff, proceeds down slope by bouncing and flying along ballistic trajectories or by rolling on talus or debris slopes.
Financial risk managementFinancial risk management is the practice of protecting economic value in a firm by managing exposure to financial risk - principally operational risk, credit risk and market risk, with more specific variants as listed aside. As for risk management more generally, financial risk management requires identifying the sources of risk, measuring these, and crafting plans to address them. See for an overview. Financial risk management as a "science" can be said to have been born with modern portfolio theory, particularly as initiated by Professor Harry Markowitz in 1952 with his article, "Portfolio Selection"; see .
Value at riskValue at risk (VaR) is a measure of the risk of loss of investment/Capital. It estimates how much a set of investments might lose (with a given probability), given normal market conditions, in a set time period such as a day. VaR is typically used by firms and regulators in the financial industry to gauge the amount of assets needed to cover possible losses. For a given portfolio, time horizon, and probability p, the p VaR can be defined informally as the maximum possible loss during that time after excluding all worse outcomes whose combined probability is at most p.
Landslide classificationThere have been known various classifications of landslides. Broad definitions include forms of mass movement that narrower definitions exclude. For example, the McGraw-Hill Encyclopedia of Science and Technology distinguishes the following types of landslides: fall (by undercutting) fall (by toppling) slump rockslide earthflow sinkholes, mountain side rockslide that develops into rock avalanche Influential narrower definitions restrict landslides to slumps and translational slides in rock and regolith, not involving fluidisation.
