AbstractsBusiness Management & Administration

Uncertainty in Risk Analysis during Hurricane Katrina

by Monika Radominska

Institution: Roskilde University
Year: 2014
Keywords: hurricane; risk analysis; hurricane Katrina; hurricane timeline
Record ID: 1121470
Full text PDF: http://rudar.ruc.dk/handle/1800/15380


This project aims to determine the reason as to why risk analysis in hurricanes is uncertain. Risk analysis is carried out to determine the proper way of dealing with the risk at hand. In natural disasters, risks are thoroughly assessed and using appropriate methods, dealt with in a way which lowers the threat. Hurricane Katrina is infamous for its devastating strength that left tens of thousands homeless across five states in United States, and close to two thousand fatalities. Having caused over $125 billion of damages, Katrina became one of the most expensive natural disasters in near history. The vast damages and fatalities during Katrina’s risk analysis proved that the process is not perfect. Therefore with the aid of literature and news articles a detailed timeline of Hurricane Katrina was created to study the events which took place during the risk analysis. Finally, although there were several factors which contributed to the devastation, the uncertainty in forecasting and therefore limited amount of time for decisions to be made is the main factor responsible for the damages during Katrina.