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Risk management is a systematic process of identifying, analyzing, evaluating, treating, monitoring, and communicating risks that may affect people, property, infrastructure, the environment, and economic activities. In the context of disaster vulnerability and risk assessment, risk management aims to reduce the likelihood of disasters and minimize their adverse impacts through effective planning, preparedness, mitigation, response, and recovery measures. It involves coordinated efforts by governments, communities, organizations, and individuals to ensure resilience against natural and human-induced hazards. The first step in risk management is risk identification. This involves recognizing hazards such as earthquakes, floods, cyclones, droughts, landslides, industrial accidents, pandemics, and technological failures. Identification also includes determining the vulnerable population, critical infrastructure, and environmental resources exposed to these hazards. Historical records, field surveys, hazard mapping, and scientific studies are commonly used for identifying risks. Risk assessment is the second important technique. It includes analyzing the probability of hazard occurrence and estimating the ___ __________ ___ _____ _______.
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