
The COVID-19 pandemic has brought the concept of risk-based thinking to worldwide attention. The global scale of the pandemic and the indiscriminate way in which the virus is transmitted mean that risk experts must consider a vast number of risk profiles when calculating the threat.
Consider this: COVID-19 can be transmitted from anyone to anyone, which means every single person on the planet is at risk. Yet the nature of the virus and the different contexts in which people live mean that not everyone shares the same level of risk. Elderly people and those with pre-existing conditions are at very high risk of serious complications from COVID-19, while young, healthy people are at a much lower level of risk.
The economy is facing an extreme risk from the disruption to the labor market and mandatory isolation of consumers who would normally be out spending money, yet fully digital enterprises like … Read more...