Risk is the probability of a hazard event causing harmful consequences. Factors like experience, wealth, and personality affect people's perceptions of risk. There are three responses to hazards: do nothing, leave the area, or adjust. Adjusting involves preventing or modifying the hazard event, modifying vulnerability, or modifying potential losses. Common ways to adjust include hazard prevention, warning systems, community preparedness, land use planning, insurance, and disaster aid. The goal is to manage risk through a continuous cycle of assessment, prevention, preparation, and recovery.

1. Risk The probability of a hazard event causing harmful consequences

12. Risk Management Cycle