This unique addition to reference literature provides an introduction to the major concepts and contemporary issues that are essential for students of environmental science and environmental studies to know. With over 200 entries authored by world-class names like Anthony Brazel, John Day and Edward Keller, this text is divided into six sections: Environmental Science, Environments, Paradigms & Concepts, Processes & Dynamics, Scales & Techniques, and Environmental Issues.  

Risk-Based Management

Risk-based management

Risk-based management is a process of measuring or assessing risk, and then developing strategies to manage it. The strategies include avoiding the risk, transferring the risk to another party, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Traditional risk management focuses on risks from physical or legal causes (e.g. natural disasters or fires, accidents, death, and lawsuits). Financial risk management focuses on risks that can be managed using traded financial instruments. Regardless of the type of risk management, most corporations have risk management strategies. For ideal risk management, a prioritization process is followed so that the risks with the greatest loss and the greatest probability of occurring are addressed first, while ...

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