ABSTRACT

Feasibility studies that can be accessed through various sources, such as websites, and companies’ documentation show limited scope in analyzing projects that are put forth with regard to vulnerability. Yet, the notion of “ vulnerability” is at the center of any project. Some authors see project vulnerability as a sensitivity to negative events that entail a difficulty in coping with them,1 thus reducing a project’ s value. Others define vulnerability as the incapacity of an organization to deal with the threats it is exposed to.2 Other definitions include the following:

The characteristics and circumstances of a community, system or asset that make it susceptible to the damaging effects of a hazard. Comment: There are many aspects of vulnerability, arising from various physical, social, economic, and environmental factors. 3

Examples are given thereafter, among which are (Plan and Processes) poor design and the construction of buildings; (People) lack of public awareness; (Power) deficient contingency measures, the inadequate

management of assets, little concern for environmental impacts, and tainted recognition of the risks. Vulnerability is subject to the social context and time.