What is risk?
As defined in the USGS Risk Plan (Circular 1444), "risk" is the potential for the full or partial loss of something of societal value due to current or proposed courses of action under conditions of uncertainty regarding real-time and future adverse events.
What is the difference between a risk and a hazard?
Hazard: A hazard can be defined as a dangerous process, phenomenon, substance, activity or condition that may cause loss of life, injury or other health impacts, property damage, loss of livelihoods and services, social and economic disruption, or environmental damage.
Risk: A risk, on the other hand, the potential for consequences where something of value is at stake and where the outcome is uncertain, recognizing the diversity of values Risk sometimes is represented quantitatively as probability of occurrence of hazardous events multiplied by the impacts if these events occur. Risk results from the interaction of hazards and a vulnerable asset or system.
Risk Strategy
In 2018, the USGS published "Science for a Risky World—A U.S. Geological Survey Plan for Risk Research and Applications" (USGS Circular 1444). This document is commonly referred to the USGS Risk Plan. The USGS Risk Plan includes recommendations for capacity building, case studies, and project ideas. The USGS Risk Plan has served as a foundational document for the USGS Office of Risk and Resilience, and the USGS Risk Community of Practice. The plain points out that to advance risk research and applications, the USGS must maximize "the use of environmental observations; hazards science; and research on communications, social stressors, and human behavior to deliver risk information in forms that are accessible by decision makers and the public alike. To achieve this, scientists and stakeholders must collaborate to match community needs with actionable insights, research, products, and tools, using advances in technology to improve information discovery and delivery."