November 01, 2012
Collins Conference Room
The SFI Risk Working Group has a mandate to understand risk and how to mitigate its consequences. The WG will take a broad look at risk in many forms, including financial, natural hazard, societal, ecological, and in many other venues. More specifically, the objectives include:
o Defining risk in a variety of complex systems
o Collecting and cataloging observational risk data
o Identifying common features
o Quantifying through definitions of metrics and statistics
o Modeling risk with numerical simulations
o Mitigating risk and understanding the decision process(es)
o Managing risk through appropriate strategies and approaches
Questions that the group will discuss involve the following.
o What do we mean by risk?
o Interactions, correlations, feedbacks: (My risk may be your opportunity)
o Risk and vulnerability: How do we characterize/measure it in various venues? Where does it come from?
o Models for risk: What is the basis? (statistical, deterministic, network models)
o Data: How much is enough? What kinds? What level of accuracy? Crowd-sourced? Public databases? Real-time? Streaming?
o Communication: How can risk best be communicated to the public or leaders? Internet? Other?
o In the age of the internet, should we pursue top-down solutions or bottom-up (crowd-sourced) solutions?
o If we can't control the hazard, can we control exposure to the hazard? (since risk = hazard x vulnerability)
o What types of solutions are available? Political? Economic? Commercial?
o What are the roles of government? Academia? Business?
o Four pieces of the disaster cycle include: Anticipation, Mitigation, Response, Recovery. What can we say about all these?
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