Journal of Harmonized Research in Engineering

FUTURE OPPORTUNITIES AND RISK MANAGEMENT

Abstract

Author(s): Naveen Malik, Naeem Akhtar, Hardeep Rohilla, Rahul, Pankaj Sharma

The inevitable public unease in the wake of large infrastructure failure prompts questions regarding how to properly define and manage the risks of various engineered activities to socially acceptable levels. A changing climate may add additional vulnerability to infrastructure and thus should be considered in risk management strategies. Current implementations of risk management processes differ across agencies, but often rely on a concept of Tolerable Risk. The Tolerable Risk is a numerical value for the boundary in a continuum of management alternatives below which risk is tolerated to secure societal benefits, though engineering interventions may be still be necessary and proper to achieve higher degrees of protection.