Risk and Opportunity, Managing Risk for Development
This World Development Report (WDR 2014), published by the World Bank, makes the case that effective risk management is not merely a protective measure but a powerful driver of development—one that can save lives, reduce economic shocks, and enable individuals, communities, and countries to seize opportunities for improvement. Drawing on the context of compounding global crises including financial instability, major natural disasters, climate change, and pandemic threats, the report frames risk management as central to the World Bank’s development mission.
The report addresses four core questions: why risk management matters for development, how it should be conducted, what systemic and structural obstacles prevent effective risk management, and how those obstacles can be overcome. Rather than focusing on specific hazard types in isolation, it examines the process of risk management itself—exploring the synergies, trade-offs, and priorities involved in addressing diverse risks across different contexts. A key argument is that building resilience and enabling people to manage risk proactively are complementary goals, not competing ones.
This resource is relevant for development practitioners, policymakers, and disaster risk reduction professionals seeking a conceptual and operational framework for integrating risk management into national and community-level development planning. It provides both a strategic rationale for mainstreaming DRR into the development agenda and practical guidance for strengthening risk management systems at multiple scales.