1. Critique risk perception in the context of risk management

2.Identify the key concepts used to assess the risk of emergency situations and disasters

More details:

Emergency situations and disasters may lead to severe impacts on local communities. Some people and/or groups are more likely to be affected than others: explain why.

You should treat this topic in a holistic way, in other words analyse / discuss this topic in general. This implies to demonstrate a good understanding of the existing literature with good use of key concepts creating or increasing risks of emergency situation / disaster and use examples to illustrate arguments. Examples can be from New Zealand, the Pacific Island region or elsewhere worldwide.

Answer:

Introduction

            Risk management is the method of identifying, analyzing, and accepting or resolving the uncertain issues in decision-making process. According to Heckmann, Comes and Nicke (2015), risk management is the sequential process of assessing and controlling the threats to the capital management within an organisation. The threats can be involved with different sources, such as legal liabilities, financial uncertainties, or the emerging errors in the strategic management. In some of the cases, the security threats from the information technology can be most disastrous situations for the companies. The study will thus focus on the critique associated with the risk perceptions in the context of the risk management procedure. The identification of the key concepts will be described in this study to assess the merging of the risks during the emergencies.

Critique Risk Perceptions in the Context of Risk Management

            According to Wachinger et al., (2013), the risk occurs due to the damage of the phenomenon, physical events, or errors in the human activities. It may cause the losses, property damage, injury, economic disruption, or environmental degradation.  The risks can reach to the vulnerable stage when the susceptibility has to suffer from some of the potential damages that creates the hazardous situations. For example, the engineers or the social scientist often refers to the vulnerability. On the other hand, Kellens, Terpstra and De Maeyer (2013) argued that some groups or the individuals associated with the organisation can take the vulnerable image due to such high range of risks. It is to be indicated that risks and risk perceptions are essential for the research and compliance process in the organisations. In current times, it is argued that the risk outcomes are generally conceptualized as the negative influence on the organisational functionalities. However, the traditional approaches were sometimes focusing on the positive aspects. It is essential for the policy makers to gain the insightful knowledge regards the perception of the risks management. The procedure is much effective in developing the policies that can mitigate the vulnerability of the risks. It is often considered as the effective means for interacting with the programs and government policies in the reas where risks are involved in a significant manner.

            However, it has been observed that the frequent mismatches between the percetived risks and the measurement of the probable risks determine how people should react during the emergencies. The factors associated with such perceptions are as follows:

• It is noted that the different types of risks are associated with the different types of reactions (Hopkin, 2017). For example, the voluntary activities are less risky than the involuntary activities. The emerging risks are often considered as more vulnerable than the existing risks (Bahr, 2014).
• There is the clear psychological aspect involved with the risk perception. During the decision-making process, it is necessary to assume some of the probable risks that may affect the organisational functionalities in a significant way (Wachinger et al., 2013). Hence, it is essential to judge the perceptions of others in order to gain the right insights before any vital decision is undertaken.

The above information determines that the analysis of the risk perception is essential for undertaking any vital decision for the organisational developmentt. The risk perception is often involved with the measurement of the risks, especially, the probabilities and the quantifications. Hence, the risk perception is necessary for every organisation.

Key concepts used for assessing the risks of the emergencies and disastrous situations

            Some of the key concepts are used for assessing the risks and the emergency occurrences. These key concepts are hazards, vulnerability, and capacities. According to (), hazardous situation occurs when there is the possibility of the potentially damaged phenomenon, physical events, and human activities. Vulnerability ensures the condition of the individual or system in which the hazards can become disaster. On the other hand, Ostadtaghizadeh et al, (2015) mentioned that the capacities are conceptualized as the set of skills, knowledge and resources to deal with the emergencies or hazardous situations. These concepts be quite interlinked with each other. During risk management situations, there is the high possibility to occur such events. It is to be indicated that the traditional and local knowledge as well as the technological improvements can be considered as the fruitful capacities for mitigating the risky situations (Gaillard & Mercer, 2013). The organisations need to develop the capacity for resolving the potential risks that can affect the organisational functionalities in a significant way. Another component of risk management is resilience, which defines the ability to overcome the damages created by the natural hazards, either through maintaining the social fabric or pre-disasters or through accepting the larger changes (Olson & Wu, 2015). In some of the cases, the resilience is accepted as the problematic concept that emphasizes resisting the changes within a scenario. Identification of such components is essential to undertake the process of resolving or minimizing the risks within an organisation.

Conclusion

            The risk management process is associated with the different concepts, which are necessarily needed to be identified for minimizing the potential risks. It has been recognized that the risk perception is essential for measuring the probability of the risk occurrence. Hence, every organisation needs to keep focus on the probable risks before making any vital decision. However, it is essential to understand the associated terms and concepts involved in the risk management procedures. Organizing these concepts in a sequential way will derive the ideas about the risk compliance process.

References

Bahr, N. J. (2014). System safety engineering and risk assessment: a practical approach. CRC Press.

Gaillard, J. C., & Mercer, J. (2013). From knowledge to action: Bridging gaps in disaster risk reduction. Progress in human geography, 37(1), 93-114.

Heckmann, I., Comes, T., & Nickel, S. (2015). A critical review on supply chain risk–Definition, measure and modeling. Omega, 52, 119-132.

Hopkin, P. (2017). Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.

Kellens, W., Terpstra, T., & De Maeyer, P. (2013). Perception and communication of flood risks: a systematic review of empirical research. Risk analysis, 33(1), 24-49.

Olson, D. L., & Wu, D. D. (2015). Enterprise risk management (Vol. 3). World Scientific Publishing Co Inc.

Ostadtaghizadeh, A., Ardalan, A., Paton, D., Jabbari, H., & Khankeh, H. R. (2015). Community disaster resilience: a systematic review on assessment models and tools. PLoS currents, 7.

Wachinger, G., Renn, O., Begg, C., & Kuhlicke, C. (2013). The risk perception paradox—implications for governance and communication of natural hazards. Risk analysis, 33(6), 1049-1065.