ABSTRACT

Risk assessment is a well-established tool in situations with considerable data and clearly defined boundaries for its use. Statistical and probabilistic methods have been developed and provide useful decision support for many types of applications. The concept of emerging risk has gained increasing attention. R. Flage and T. Aven have performed an in-depth analysis of the emerging risk concept and in particular its relation to black swan type of events through the known/unknown. Risk assessment is evolving, so are risk understanding, risk characterizations, risk communication, risk management and governance. The future of risk analysis, with its components, has been discussed in many publications. The key idea is that, by building on risk analysis as an instrument for generating risk related knowledge, there is huge potential for risk analysis to play an important role in the management and governance of risk-related problems.