Which sequence correctly represents the components of risk assessment under ISO 31000 as applied to geospatial risk?

• A. Context establishment, risk treatment, monitoring
• B. Hazard identification, risk analysis, risk evaluation
• C. Data collection, risk transfer, insurance pricing
• D. Stakeholder engagement, communication, governance

Answer: (B)

The sequence tested aligns with how ISO 31000 structures risk assessment in a geospatial context: start by identifying the hazards that could affect the system or area of interest, using maps and spatial data to spot where geohazards or exposure exist. Next, analyze the risks by estimating how likely those hazards are to occur and what the consequences would be, taking into account exposure, vulnerability, and potential impacts across the geospatial landscape. Finally, evaluate the results by comparing the risk estimates to predefined criteria to decide which risks are significant and require treatment. This order—identifying hazards, analyzing risk, then evaluating against criteria—matches the ISO 31000 approach and supports prioritizing mitigation actions. The other options mix in steps from other parts of risk management (like treatment, governance, or data collection) rather than the core assessment sequence.