The Emerging Science of Risk Analysis

Dec. 12, 2018 – Risk Analysis is an emerging science that touches nearly all facets of daily life – for governments, public and private sector organizations and individuals. Risk Analysis represents the framework of concepts, theories, principles, methods and models needed to understand, assess, characterize, communicate and manage risk.

The Society for Risk Analysis (SRA) released a series of foundational papers covering the core subjects, key principles and a glossary of risk-related terminology to support research and practices for all types of applications.

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  • SRA’s Core Subjects of Risk Analysis covers five main topics including fundamentals, risk assessment, risk perception and communication, risk management and governance, and solving real risk problems and issues. This document provides guidance on the subjects to be covered in risk analysis programs and offers a platform to identify specific risk analysis subjects for broad overview courses on risk analysis, as well as for courses and programs on related areas such as safety and security.
  • Key Principles of Risk Analysis provides authoritative guidance on the fundamental principles to be adopted when conducting risk analysis to obtain high quality and trustworthy risk analysis.
  • A Glossary of Risk-Related Terminology offers a novel approach with different perspectives and a systematic separation between overall qualitative concepts and their measurements. The glossary terms are divided into three categories: 1) terminology on basic concepts 2) terminology on related concepts, methods, procedures 3) terminology on risk management actions.

“Risk is a part of everyday life from healthcare to finance and technology,” said Terje Aven, immediate past-president of SRA. “Industries all over the globe assess and manage risk when developing new products, providing services or even solving day-to-day problems. That’s why risk analysts have become instrumental in virtually every discipline and sector and we project this trend to continue.”

SRA, which fosters diverse professional collaboration among individuals and organizations for the purpose of contributing to risk analysis and risk problem solving, will continue developing tools and resources as risk analysis grows and evolves.

The Society for Risk Analysis is a multidisciplinary, interdisciplinary, scholarly, international society that provides an open forum for all those interested in risk analysis. SRA was established in 1980 and has published Risk Analysis: An International Journal, the leading scholarly journal in the field, continuously since 1981. For more information, visit www.sra.org.