• Laxmi Shankar Awasthi
• Santosh Kumar
• Karuna Shankar Awasthi

Risk assessment and management is a scientific topic that dates back 30-40 years. For how to conceptualize, assess, and manage risk, principles and methodologies were established. These concepts and approaches still form a big part of the field's basis today, but there have been many advancements in both the theoretical platform and practical models and procedures. The goal of this invited paper is to provide a review of these advancements, with a particular focus on the underlying ideas and thinking that underpin them. We've looked for patterns in perspectives and techniques, and we've considered where more risk research is needed and should be promoted. The document is aimed for readers with a wide range of backgrounds, not only risk professionals.

Risk assessment, Risk management, Foundational issues, Review.

"REVIEW OF RECENT BREAKTHROUGHS ON THE FOUNDATIONS OF RISK ASSESSMENT AND RISK MANAGEMENT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.1, Issue 5, page no.1461-1466, October-2014, Available :http://www.jetir.org/papers/JETIR1701622.pdf

"REVIEW OF RECENT BREAKTHROUGHS ON THE FOUNDATIONS OF RISK ASSESSMENT AND RISK MANAGEMENT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.1, Issue 5, page no. pp1461-1466, October-2014, Available at : http://www.jetir.org/papers/JETIR1701622.pdf