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→Risk
''Risk = (Probability of Climate Event) × (Probability of Asset Failure Given Event) × (Consequences: a function of exposure and vulnerability)''
''Risk = (Probability of Climate Event) × (Probability of Asset Failure Given Event) × (Consequences: a function of exposure and vulnerability)''
Not all risks can be fully managed; therefore, management efforts are typically prioritized toward impacts that exceed established thresholds of severity and frequency. (MECP, 2022).
Not all risks can be fully managed; therefore, management efforts are typically prioritized toward impacts that exceed established thresholds of severity and frequency (MECP, 2022).
====Uncertainty====
====Uncertainty====