ABSTRACT
Risk analysis is a very elastic concept; it could mean just a simple examination of risks on one side of the spectrum and a full-fledged research study on the other. A commonly cited purpose of risk analysis is to select the right risk for mitigation. It is very similar to the selection of a problem for resolution from a complex set of problems. Some kind of analysis of risks occurred during risk identification, resulting in ascribing attributes to each risk and paving the way for analysis; risk analysis is a continuation. The first-order analysis is an easy-to-read map of risks. The purpose of first-order analysis is to take an overall view of risks and isolate critical risks, which need immediate attention, from the rest and navigate through the risks, beating an approach path. Higher-level risks are larger problems that require higher-level analysis and thinking.
