The Role of Time in Risk and Risk Analysis: Implications for Resilience, Sustainability, and Management

When conducting a risk analysis, it is critical to clearly address the time frames. Consider the consequences of a hurricane: does your risk assessment consider indirect effects over a few years or just immediate ones? It can make a large difference and so has massive implications for management and policy decisions. Understanding how time is considered in risk analysis and risk characterization helps us to apply risk tools to resilience, sustainability, and adaptation.

This paper develops and clarifies this understanding of how risk science concepts and frameworks should appropriately address time.

The full article can be found on the Risk Analysis journal website at https://onlinelibrary.wiley.com/doi/full/10.1111/risa.13733.