Question

Prevention, mitigation, transfer, and financing are included under which of the following aspects of risk management?

• A. Risk identification
• B. Risk reduction
• C. Adverse event management
• D. Recovery

Answer 1

The correct option is B Risk reduction

Disaster risk management involves activities related to prevention i.e relocating exposed people and assets away from a hazard area, mitigation i.e. preventing future emergencies or minimizing their effects for instance constructing flood defences, planting trees to stabilize slopes and implementing strict land use and building construction codes, transfer i.e. it is the process of formally or informally shifting the financial consequences of particular risks from one party to another whereby a household, community, enterprise or state authority will obtain resources from the other party after a disaster occurs, financing i.e. Disaster risk analysis was born out of the financial and insurance sector's need to quantify the risk of comparatively rare high-impact natural hazard events.