Risk evaluation: The paradigm and tools

Abstract

The paper is devoted to: (1) investigate risk as an inherently fundamental entity that exists in all aspects of our life; (2) show that up until now, the majority of available risk definitions are suitable only for particular application areas; (3) propose a relatively unified risk paradigm and a fuzzy logic based risk evaluation methodology and (4) to present a set of computerized risk evaluation tools. This paper confirms and strongly advocates the possibility to use the newly developed, unified/generalized and theoretically based risk control methodology and a set of networked ICT tools for risk evaluation, mitigation and monitoring. Our conclusions emphasize that such methodology, if delivered through a networked academic community would increase the competences of university graduates and enable professionals from governmental and public organizations to properly maintain problems associated with risk and risk control.