Disaster Mitigation Under Complex Contingencies: Risk Management Outline for a Connected World

Jan Folkmann Wright
Additional contact information
Jan Folkmann Wright: Oslo Metropolitan University, Norway

International Journal of Risk and Contingency Management (IJRCM), 2021, vol. 10, issue 1, 1-11

Abstract: Disasters have always been part of human history. Although global safety has increased over the years, it is a question if the positive trend will continue. The most discussed major uncertainty is climate change, temporarily dwarfed by the COVID-19 virus pandemic. There are however many other challenges due to an increasingly connected and complex world. Failure to recognize an approaching danger is as human as the exaggeration by those who get worried too easily. If risk management systems shall handle the new risks, substantial advances in how to identify new risks are needed as well as improvements in the identification of cost-efficient mitigations. The collateral damage caused by mitigative measures can be high. Invasive actions, possibly amplified by social and traditional media, may disrupt supply chains and factories, and whole economies might suffer. A risk management system that can identify types of global risks and evaluate measures on cost-efficiency is needed to see if the cure could become worse than the disease.

Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://services.igi-global.com/resolvedoi/resolve. ... 018/IJRCM.2021010101 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igg:jrcm00:v:10:y:2021:i:1:p:1-11

Access Statistics for this article

International Journal of Risk and Contingency Management (IJRCM) is currently edited by Narasimha Rao Vajjhala

More articles in International Journal of Risk and Contingency Management (IJRCM) from IGI Global
Bibliographic data for series maintained by Journal Editor ().