What is risk ?
The following equation is generally used to calculate Risk. Click on the different components to learn more about them!
Risk = Hazard x Exposure x Vulnerability x Worth
Hazard is equivalent to the frequency of a type of danger of a given intensity at a certain location.
Exposure is the exposition of an object or person in a location according to his time of residence in the said location, which can be expressed in percentage (%).
Vulnerability is the average degree of destruction (degree of loss in percentage: 0 – 100%) that a subject can reach if it is affected by a dangerous phenomenon of a certain intensity.
Worth is the total potential damage costs or number of object units or number of persons in a certain location, caused by a disaster of a given intensity.