A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards

Jieun Ryu, Eun Joo Yoon, Chan Park, Dong Kun Lee, Seong Woo Jeon

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government's policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding.

Original languageEnglish
Article number2005
JournalSustainability (Switzerland)
Volume9
Issue number11
DOIs
Publication statusPublished - 2017 Nov 1

Fingerprint

Risk assessment
risk assessment
Hazards
natural disaster
Decision making
decision making
hazard
climate change
Climate change
Industry
damages
small and medium-sized enterprise
flood damage
assessment method
finance
Flood damage
risk management
flooding
infrastructure
Precipitation (meteorology)

Keywords

  • Climate change
  • Floods
  • Industrial parks
  • Risk
  • Risk assessment
  • SMEs (small and medium-sized enterprises)

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Cite this

A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards. / Ryu, Jieun; Yoon, Eun Joo; Park, Chan; Lee, Dong Kun; Jeon, Seong Woo.

In: Sustainability (Switzerland), Vol. 9, No. 11, 2005, 01.11.2017.

Research output: Contribution to journalArticle

@article{240da67ef60e459daf11f32f714320ff,
title = "A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards",
abstract = "Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government's policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding.",
keywords = "Climate change, Floods, Industrial parks, Risk, Risk assessment, SMEs (small and medium-sized enterprises)",
author = "Jieun Ryu and Yoon, {Eun Joo} and Chan Park and Lee, {Dong Kun} and Jeon, {Seong Woo}",
year = "2017",
month = "11",
day = "1",
doi = "10.3390/su9112005",
language = "English",
volume = "9",
journal = "Sustainability",
issn = "2071-1050",
publisher = "MDPI AG",
number = "11",

}

TY - JOUR

T1 - A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards

AU - Ryu, Jieun

AU - Yoon, Eun Joo

AU - Park, Chan

AU - Lee, Dong Kun

AU - Jeon, Seong Woo

PY - 2017/11/1

Y1 - 2017/11/1

N2 - Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government's policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding.

AB - Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government's policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding.

KW - Climate change

KW - Floods

KW - Industrial parks

KW - Risk

KW - Risk assessment

KW - SMEs (small and medium-sized enterprises)

UR - http://www.scopus.com/inward/record.url?scp=85033706491&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85033706491&partnerID=8YFLogxK

U2 - 10.3390/su9112005

DO - 10.3390/su9112005

M3 - Article

AN - SCOPUS:85033706491

VL - 9

JO - Sustainability

JF - Sustainability

SN - 2071-1050

IS - 11

M1 - 2005

ER -