The Application of Two Flood Risk Management Initiatives in Germany, Austria, and Europe

STAKEHOLDER INVOLVEMENT IN RISK MANAGEMENTBy (Name)Name of CourseTutorCity and StateDate
Introduction
In each of the business organizations, there is the need for effective risk and opportunity management. As an organization, it is always wise to communicate with all the stakeholders about the significance of risk management in an organization. Poor communication with the stakeholders about your risk management strategies in an organization can cost, the success of your organization, but proper consultations in an organization can lead to greater benefits to the organization. As a part of the research, I will incorporate the involvement of stakeholders in the management of risk and the outcomes that can be associated with the strategy. The case study that has been chosen for the study is the case of the EU Flood Risk Management Directive that was issued and aimed at the active involvement of the parties that were interested in coming up with the appropriate risk management plans that would make sure that there is an approach of risk management that calls for decision making that is more governance-related. The paper will also address the application of two flood risk management initiatives in three countries that is Germany, Austria and Europe. The initiatives are procedural efficiency and the role of informal participation. Lastly, there will be also other suggestions drawn from the seminars and the course material that will be offered as a strategy for improving flood risk management in the countries.
Flood Risk Management in Austria, Germany, and Austria
The EU Flood Risk Management Directive requires that all the relevant authorities should be involved actively in coming up with the risk management plans for floods that will increase the efficiency and the acceptance and final implementation of the plans CITATION UNI05 \l 1033 (UNISDR, 2005). Risk governance can be described as the entire process during which any information associated with risk is gathered, analyzed, communicated and then the management will come up with proper decisions to help in the management of the risk. As such, risk governance is more institutional and in most of the cases, it is based on resilience. In their report of 2005, the United Nations International Strategy for Disaster Reduction (UNISDR) defines resilience as the extent to which a social system of an organization or group can position and organize itself in such a way that it increases its capacity in learning from the various disasters that have occurred in the past so that they can have proper and improved risk reduction measures (UNISDR 2004).
The risk management strategy was adopted and put to practice in the three countries, Germany, Austria and Italy, and it was aimed at improving the resilience of a particular region through the inclusion of all the factors, rules, conventions, mechanisms and process associated with the collection, analysis, and communication of risk management decisions. Poor management of risks reduces the capability of the communities to the resiliency and adaptation of the strategies. A stakeholder focused process, not only refers to consulting the stakeholders, but also the members of the public such as the ones who are affected by the floods in this c...