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The future of risk assessment

E. Zio

Reliability Engineering and System Safety, 2018, vol. 177, issue C, 176-190

Abstract: Risk assessment must evolve for addressing the existing and future challenges, and considering the new systems and innovations that have already arrived in our lives and that are coming ahead. In this paper, I swing on the rapid changes and innovations that the World that we live in is experiencing, and analyze them with respect to the challenges that these pose to the field of risk assessment. Digitalization brings opportunities but with it comes also the complexity of cyber-phyiscal systems. Climate change and extreme natural events are increasingly threatening our infrastructures; terrorist and malevolent threats are posing severe concerns for the security of our systems and lives. These sources of hazard are extremely uncertain and, thus, difficult to describe and model quantitatively.

Keywords: Risk assessment; Simulation; Business continuity; Resilience; Condition monitoring-based risk assessment; Dynamic risk assessment; Cyber-physical systems; Safety and security assessment (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:reensy:v:177:y:2018:i:c:p:176-190