n Civil Engineering = Siviele Ingenieurswese - Grappling with risk complexity : an insight into multi-scalar and multi-dimensional risk scenarios : construction and project management
|Article Title||Grappling with risk complexity : an insight into multi-scalar and multi-dimensional risk scenarios : construction and project management|
|© Publisher:||South African Institution Of Civil Engineering (SAICE)|
|Journal||Civil Engineering = Siviele Ingenieurswese|
|Author||Simon Van Wyk and Carin Joyce|
|Publication Date||Jul 2012|
|Pages||31 - 33|
Risk is an inherent part of any business. However, risks can also be viewed as externalities in the right conditions, such as natural hazards that wreak havoc. The fact of the matter is that risk cannot be viewed in a 'silo' form. The 'silo effect' typically applies to the more historical forms of assessing risk. Examples include disaster risk, financial risk, operational risk, fire risk and the list goes on. This article therefore aims to illustrate the multi-scalar and multi-dimensional nature (complexity) of risks, with a special focus on the interconnectedness of operational and disaster risk.
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