Risk is the likelihood of damage/loss from the hazard, integrated across the entire spectrum of possible events:
Risk= f( likelihood, impact)
Impact or consequence is based on the interaction of the fire characteristics and the vulnerability of the asset to fire.
Impact= f(hazard, exposure, vulnerability)
The direct impact of the event is calculated from the costs modelled across all exposures during the event. If we examine the elements of impact:
- Hazard is a physical situation with a potential for undesirable consequences to people, property or the environment. It refers to the fire, accident or incident that the fire service is responding to.
- Exposure refers to what elements are at risk (people, buildings, infrastructure, agriculture etc.)
- Vulnerability refers to how each exposed element responds to the level of hazard. Vulnerability can be divided into four main areas: physical, social, economic and system.
Updated