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Comparing risk and resilience approaches

Author

Listed:
  • Leon Runje

    (Ministry of Defence of the Republic of Croatia Zagreb, Croatia)

  • Amalija Horvatic Novak

    (University of Zagreb, Faculty of Mechanical Engineering and Naval Architecture, Zagreb, Croatia)

  • Biserka Runje

    (University of Zagreb, Faculty of Mechanical Engineering and Naval Architecture, Zagreb, Croatia)

  • Andrej Razumic

    (University of Zagreb, Faculty of Mechanical Engineering and Naval Architecture, Zagreb, Croatia)

  • Veljko Kondic

    (University North, Varaždin, Croatia)

Abstract

Ever increasing challenges in the areas of risk management have led to a need for a risk management approach which deals not only with threat prevention but also adaption, absorption and recovery from adverse events. This has led to the rise of the concept of resilience analysis and management, which, unlike risk assessment and management focuses on the overall system under analysis rather than its individual components. Therefore, both the civilian and military sector have, over the past decade, emphasized the need to clarify the concept of resilience management as well as to differentiate it from related terms such as risk management. This article aims to build upon the existing literature and provide a comparison of the risk and resilience approaches which offer ways to analyse and manage these concepts.

Suggested Citation

  • Leon Runje & Amalija Horvatic Novak & Biserka Runje & Andrej Razumic & Veljko Kondic, 2021. "Comparing risk and resilience approaches," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 19(3), pages 366-374.
    • Handle: RePEc:zna:indecs:v:19:y:2021:i:4:p:366-374
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    File URL: https://www.indecs.eu/2021/indecs2021-pp366-374.pdf
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    References listed on IDEAS

    as
    1. Roland W. Scholz & Yann B. Blumer & Fridolin S. Brand, 2012. "Risk, vulnerability, robustness, and resilience from a decision-theoretic perspective," Journal of Risk Research, Taylor & Francis Journals, vol. 15(3), pages 313-330, March.
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    More about this item

    Keywords

    risk assessment; risk management; resilience analysis; resilience management;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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