Risk of Extreme and Catastrophic Events

by Jim Lambert, Univ of Virginia, Charlottesville, United States,



Document Type: Proceeding Paper

Part of: Risk-Based Decision Making in Water Resources VI

Abstract:

Assessing the extreme tails of a probability distribution, where events of very low probability can nevertheless lead to catastrophic outcomes, is one of the most widely discussed and challenging problems of risk-based approaches to management. From minimizing performance errors in hospital surgery to planning for flood protection, the fifth session focused on the assessment and management of the risks of worst-case scenarios.

Subject Headings: Risk management | Probability | Floods | Probability distribution | Errors (statistics) | Disasters and hazards | Disaster warning systems

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