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INTEGRATED RISK AND VULNERABILITY MANAGEMENT ASSISTED BY DECISION SUPPORT SYSTEMSTOPICS IN SAFETY, RISK, RELIABILITY AND QUALITY VOLUME 8 Editor Adrian V. Gheorghe Swiss Federal Institute of Technology,
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Begin by defining the scope of the assessment including the geographic area and hazards to be evaluated.
02
Gather relevant data on potential hazards, vulnerabilities, and exposed elements.
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Identify stakeholders and engage them for local knowledge and input.
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Use qualitative and quantitative methods to assess risks associated with identified hazards.
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Evaluate the existing capacities and resources available to address vulnerabilities.
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Prioritize risks based on their likelihood and potential impact.
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Document findings and recommendations in a comprehensive report.
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Review and update the assessment regularly to ensure its relevance.

Who needs integrated risk and vulnerability?

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Government agencies involved in disaster management and planning.
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Researchers and academic institutions studying climate change and resilience.
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Integrated risk and vulnerability refers to a comprehensive approach that combines the assessment of potential risks and vulnerabilities within an organization or system. It seeks to identify, analyze, and mitigate risks while considering the interconnectedness of different components and their vulnerabilities.
Organizations that are obligated to assess and report their risk and vulnerability levels, often in compliance with regulatory requirements or industry standards, are required to file integrated risk and vulnerability. This includes sectors such as finance, healthcare, and critical infrastructure.
To fill out an integrated risk and vulnerability assessment, organizations must gather relevant data, identify potential risks, assess vulnerabilities, evaluate impact and likelihood, and document findings systematically. It typically involves using established frameworks and standards to ensure comprehensive coverage.
The purpose of integrated risk and vulnerability is to provide organizations with a clear understanding of their risk landscape, enhance decision-making, prioritize resource allocation for risk mitigation, and improve overall resilience against potential threats and vulnerabilities.
Information that must be reported includes identified risks, vulnerabilities, risk assessments, mitigation strategies, impact analyses, and any relevant data that helps stakeholders understand the overall risk posture of the organization.
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