New Risk Management Data Have Been Reported by Researchers at George Washington University

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- Investigators publish new report on Risk Management. According to news reporting originating in Washington, District of Columbia, by VerticalNews journalists, research stated, "The concept of resilience and its relevance to disaster risk management has increasingly gained attention in recent years. It is common for risk and resilience studies to model system recovery by analyzing a single or aggregated measure of performance, such as economic output or system functionality."

Financial support for this research came from US National Science Foundation.

The news reporters obtained a quote from the research from George Washington University, "However, the history of past disasters and recent risk literature suggest that a single-dimension view of relevant systems is not only insufficient, but can compromise the ability to manage risk for these systems. In this article, we explore how multiple dimensions influence the ability for complex systems to function and effectively recover after a disaster. In particular, we compile evidence from the many competing resilience perspectives to identify the most critical resilience dimensions across several academic disciplines, applications, and disaster events. The findings demonstrate the need for a conceptual framework that decomposes resilience into six primary dimensions: workforce/population, economy, infrastructure, geography, hierarchy, and time (WEIGHT). These dimensions are not typically addressed holistically in the literature; often they are either modeled independently or in piecemeal combinations. The current research is the first to provide a comprehensive discussion of each resilience dimension and discuss how these dimensions can be integrated into a cohesive framework, suggesting that no single dimension is sufficient for a holistic analysis of a disaster risk management. Through this article, we also aim to spark discussions among researchers and policymakers to develop a multicriteria decision framework for evaluating the efficacy of resilience strategies."

According to the news reporters, the research concluded: "Furthermore, the WEIGHT dimensions may also be used to motivate the generation of new approaches for data analytics of resilience-related knowledge bases."

For more information on this research see: Workforce/Population, Economy, Infrastructure, Geography, Hierarchy, and Time (WEIGHT): Reflections on the Plural Dimensions of Disaster Resilience. Risk Analysis, 2018;():. (Wiley-Blackwell - www.wiley.com/; Risk Analysis - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

Our news correspondents report that additional information may be obtained by contacting J. Santos, The George Washington University, Washington, DC, United States. Additional authors for this research include C. Yip, S. Thekdi and S. Pagsuyoin.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/risa.13186. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

(Our reports deliver fact-based news of research and discoveries from around the world.)