What are the standard terms used to describe risks in risk management?

By BrownHairedEevee @ 2022-03-05T04:07 (+11)

I've heard that the risk management field uses a set of terms to describe risks and their causes, such as hazard and vulnerability, and I think it would be beneficial for the x-risk community to adopt these terms in order to describe x-risks with more nuance. For example, this page lists hazard, threat, vulnerability, risk, and consequence/impact. I would appreciate an explanation of the definitions of these terms and the differences between them.

MMMaas @ 2022-03-06T16:19 (+4)

Some of these (hazard, vulnerability, exposure) are discussed in the context of x-risks in this typology: https://www.sciencedirect.com/science/article/abs/pii/S0016328717301623 [open-access at https://www.researchgate.net/publication/324688255_Governing_Boring_Apocalypses_A_New_Typology_of_Existential_Vulnerabilities_and_Exposures_for_Existential_Risk_Research ]

evelynciara @ 2022-03-06T19:17 (+3)

Thanks! This is exactly what I was looking for!