There are many hazards in our environment that can threaten our lives and health. Researchers at Clark University like Dominic Golding have for many years been involved in the study of risk and hazard management, a field of inquiry that combines an understanding of the environment, psychology, and management. They define hazards as threats to humans and what they value, and risk as a measure of the likelihood and severity of harm that can result from a hazard. Individuals differ in their perceptions of the amount of risk in a given situation, and the amount of risk they are willing to assume. Lack of preparation can result in injury, death and millions of dollars spent to aid the victims of disasters.
Risk assessment uses various methods to assess the likelihood and severity of future harm.
One of the most commonly used methods is to analyze past data for patterns and trends, and then to make predictions about future events. Researchers make the assumption that future patterns and trends will be similar to those in the past. The identification of such patterns and trends allows risk managers to move forward in setting priorities and devising risk management interventions and strategies.