Disaster Management in Fisheries

1.1.8 WHAT IS RISK?

Risk is a “measure of the expected losses due to a hazard event occurring in a given area over a specific time period. Risk is a function of the probability of particular hazardous event and the losses it would cause.” The level of risk depends upon: Nature of the hazard; Vulnerability of the elements which are affected; Economic value of those elements. A community/locality is said to be at ‘risk’ when it is exposed to hazards and is likely to be adversely affected by its impact. Whenever we discuss ‘disaster management’ it is basically ‘disaster risk management’. Disaster risk management includes all measures which reduce disaster related losses of life, property or assets by either reducing the hazard or vulnerability of the elements at risk.