Deterministic and Probabilistic Risk : Risk Assessment Can Mislead

The main aim of this paper is to focus on the challenges facing developing countries like Egypt in terms of lack of existing data and estimate the chance of an event by using probabilistic risk approach to characterize uncertainty and variability in risk throughout the spectrum of analytical tools used to support decisions, several challenges need to be effectively addressed for its development and practical deployment. In this paper, we give an overview of these and discuss the related implications in terms of research perspectives