Risk: The possibility of suffering harm from a hazard. (Deyle, et al. 1998, 121)
Risk: “Risk is generally defined as the combination of the frequency of occurrence, vulnerability, and the consequence of a specified hazardous event.” (DHS, NIPP 2006, p. 29)
Risk: “A measure of potential harm that encompasses threat, vulnerability, and consequence. In the context of the NIPP, risk is the expected magnitude of loss due to a terrorist attack, natural disaster, or other incident, along with the likelihood of such an event occurring and causing that loss.” (DHS, NIPP2006, p. 105)
Risk: “…the potential losses associated with a hazard and, defined in terms of expected probability and frequency, exposure, and consequences” (FEMA 1997, Multi Hazard Risk Assessment, xxi).
Risk: The estimated impact that a hazard would have on people, services, facilities, and structures in a community; the likelihood of a hazard event resulting in an adverse condition that causes injury or damage. Risk is often expressed in relative terms such as a high, moderate, or low likelihood of sustaining damage above a particular threshold due to a specific type of hazard event. It also can be expressed in terms of potential monetary losses associated with the intensity of the hazard (FEMA 2001 (August), a-6)
Risk: Risk “is the probability that a hazard will occur during a particular time period.” (Godschalk 1991, 132)
Risk: “The term ‘risk’ is used in two ways. The first is to identify what is at risk from the threats generated by the hazard. The second is to identify the probability of losing community assets…” (May 2000, p. 6)