Risk Analysis and Management
Q1. A review of the concept of risk
Risk is defined as a forthcoming uncertainty concerning deviation from the anticipated outcome. Risk can also mean the probability of a happening multiplied by the consequence of the same event. Through risk evaluation, disaster management can determine the best method of mitigating the risk. It also set some level of preparedness to the risk, which provides the best cost-benefit, most effective, and most appropriate. The hazard with the most consequence and occurs with most frequency causes the most threat (Coppola, 2007). Therefore, disaster management is responsible for handling the threat that has the most significant impact, considering the little funds available.
The consequence is a factor of the risk that describes the risk’s impact on the building structures, humans, and the environment. When evaluating the consequence of risk, three components are considered: death, injury, and damage (Coppola, 2007). Death and injury are associated with humans and other living things. The damage is related to the cost reported in currency, including direct cost and indirect cost, tangible losses, and intangible losses.
Effective risk management is done using qualitative risk analysis. This method comprises four steps. The first step is calculating the quantitative probability of the identified threat. The second step is estimating the quantitative consequences anticipated to happen for every threat in terms of economic and human impact. The third step is developing a locally custom-made qualitative system that measures the probability and consequences of the threat identified (Coppola, 2007). The last step is to interpret quantitative data into qualitative information for the likelihood and impact of the threats.
Q2. The problem in the assignment
Problems in an assignment are the difficulties an individual faces when handling an assignment. The problems may include the subject knowledge where the student may fail to understand what the question is all about—limited resources available where the student is restricted from using a specific resource when carrying out the research. The final problem is presenting a free plagiarized assignment to the professor.
Q3. Discussion of results with the section squad
The assignment is provided to learners to close the gap between the learner’s studying at home and school. An excellent writing assignment starts with clear goals and objectives that the professor expresses. The students should understand the goals and objectives to meet the requirements stated by the tutor. Therefore, a student should plan, analyze the question, draft an outline, find information from the resources, write the relevant information, and finally edit and proofread the work before summation. All these factors will help the student mitigate the problems likely to be encountered
Q4. Improvements made to work and why they are valid
The improvements made in work are the extra components made in the assignment to make it more appealing. Some of the upgrades done include avoiding spelling and grammar errors, using simple language, demonstrating in-depth knowledge, and using own words. This improvements are valid because it help present plagiarized free work. It also enhance quality and excellent work therefore making the student score quality grades.
Reference
Coppola, D. (2007). Introduction to International Disaster Management. Google Books. Retrieved 22 October 2020, from https://books.google.co.ke/books?id=s6oxEraqWWwC&printsec=frontcover&dq=inauthor:%22Damon+P.+Coppola%22&hl=en&sa=X&ved=2ahUKEwj_tYidscfsAhXE8-AKHXlbCrMQ6wEwAHoECAUQAQ#v=onepage&q&f=false.