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Coursera Massive Open Online Course (MOOC) Risk and Opportunity: Managing Risk for Development
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Final Project
for the Massive Open Online Course
Risk and Opportunity:
Managing Risk for Development
Provided by:
and
Nikolaos Skondras
Risk and Opportunity: Managing Risk for Development
DISASTERS Around the World
Risk and Opportunity: Managing Risk for Development
Disasters, both Natural and Technological are integral parts of our lives…
Up to date, numerous events have occurred…
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT and World Bank
Risk and Opportunity: Managing Risk for Development
Sou
rce: EM-D
AT and
Wo
rld B
ank
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT and World Bank
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT and World Bank
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT and World Bank
Risk and Opportunity: Managing Risk for Development
Sou
rce: EM-D
AT
Risk and Opportunity: Managing Risk for Development
Sou
rce: EM-D
AT
Risk and Opportunity: Managing Risk for Development
Source: EM-DAT and World Bank
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Source: WDR, 2014
Risk and Opportunity: Managing Risk for Development
Household Community Enterprise sector Financial system State International community Household
Community
Enterprises
Financial System
International Community
State
Source: WDR, 2014
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Incentives: Are bad incentives leading to too much or too little risk taking?
Information: Are decision makers ill informed? Behavior: Are cognitive and behavior biases impairing risk
management? Resources: Are resources and access to resources too
limited? Policy: What policies should be implemented?
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Source: WDR, 2014
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
Reform 1: Establishment of a a national risk board to assess and manage risks in an integrated way
Reform 2: Creation of independent fiscal and financial agencies to promote sustainable policies:
• Establish fiscal councils to promote fiscal sustainability • Put in place independent macroprudential supervisors
for financial stability
Risk and Opportunity: Managing Risk for Development
Reform 3: Should access to social insurance be tied to work status? – For Debate
Reform 4: For the international community, embrace incremental approaches that can increase traction toward global solutions
Risk and Opportunity: Managing Risk for Development
Disasters cause great damages, affect a vast number of people and cost lives
In many cases the occurrence of disasters cannot be avoided Risk Management is a process that can facilitate towards: o Reducing the impacts of disasters o Promoting development through opportunity embracing
However, Risk Management is an expensive and challenging process that requires balance between its comprising elements
On the other hand, Risk Management is a cost – effective solution which means that the expected benefits are usually higher than the expected cost
Risk and Opportunity: Managing Risk for Development
Risk and Opportunity: Managing Risk for Development
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