Recent developments in the management of risks due to large scale natural hazards

Authors

Michael H. Faber, Yahya Bayraktarli and Kazuyoshi Nishijima

Abstract

A recently developed risk management framework is outlined which utilizes hierarchical Bayesian
probabilistic modeling, generic indicator based risk models and Geographical Information Systems. The
developed methodology facilitates risk based decision making in regard to the management of risks due to
large scale natural hazards such as floods, earthquakes and hurricanes. In addition the developed methodology
facilitates assessment of portfolio risks for large populations of assets subject to complex causal
dependencies. The presented methodology is illustrated considering earthquake risk management for a larger
city and considering typhoon risk assessment in the region of Japan.

Published in/by

Proceedings SMIS, XVI. Mexican National Conference on Earthquake Engineering, Ixtapa, Guerrero, Mexico, November 1-4, 2007.