What do we mean with integrated risk management? : A research profiling comparing DRM and other fields of risk management

Abstract

The concept of integrated risk management (IRM) has developed as a response to more interconnected and complex contexts. To investigate how the concept is used and what is meant with integration in the scientific literature, a research profiling was carried out across all kinds of risk management applications. 1094 publications from scientific journals, conference proceedings, and books were included. The study period of 21 years showed a steady increase in the use of IRM, especially for risk management in the private sector and for natural hazard risks. 634 of the publications were published in 331 different journals, representing a large range of scientific disciplines. Only 30 % of the publications were connected by internal referencing. 86 different specific risks were identified and clustered into seven risk clusters. Two major types of integration were identified: firstly, of different aspects of the risk itself or within the risk management process, and secondly, between the risk management process and a wider context of other objectives and processes related to business, society, or ecosystems. The integration of natural hazard risks mainly was in relation to societal processes and ecosystems, whereas integration of business-related risks took place mainly within the business sector. Overall, the literature on IRM is fragmented, with a few exceptions where discourses have developed around certain risks like flood risk and enterprise risk. The development of a more general understanding of integration across different fields of risk management would benefit analyses and decision-making in an increasingly interconnected world