A cascading failure is a failure that starts small but becomes large as it spreads across a system as a chain reaction of interconnected parts. They occur in complex systems such as economies, markets, technologies, infrastructure and ecosystems. Cascading failures are considered a particularly difficult to predict and damaging class of risk. In theory, the failure of a single company can bring down the entire global economy or loss of a single species can cause an ecosystem to collapse.
Resilience is a common term for strategies that seek to prevent cascading failures. The following are a few examples of resilience:Avoidance of monopolies and single points of failure in markets such as large banks that are "too big to fail."-----Cities that are resource efficient that produce some of their own food and energy may be more resilient to global supply chain shocks.
-----Infrastructure with backups and failovers designed to prevent single points of failure.-----A healthy environment may withstand an unexpected environmental disaster whereas an environment already on the brink may not.-----Designs such as amphibious houses that float off of their foundations like a boat in the event of a flood. Typically for houses located near the floodplain of flood-prone rivers.
-----A house that produces most of its own energy is generally more resilient to power outages.
|Cascading Failure||Resilience |
|Definition||A small failure that becomes a large failure as it spreads across a system of interconnected parts.||A class of strategies that reduce the probability or impact of cascading failures.|
This is the complete list of articles we have written about risks.
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A list of common business risks.
The four things that can be done about risk.
A metric for measuring risk management.
The potential that you'll achieve too much of a good thing.
Any risk that people have a strong aversion too.
The definition of risk taking with examples.
A list of risk examples by type.
The two main factors in modeling a risk.
A definition of calculated risk with an example.
How to calculate relative risk with examples.
An overview of resilient cities.
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The common types of blue roof.
The common types of urban agriculture.
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Nations ranked by total CO2 emissions
A list of common city issues.
A list of common community problems.
A list of common environmental problems.
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