Both adopt multidisciplinary approach. They are applied in predictive assessment processes that seek to control and improve policy and plan implementation.
Environmental Impact Assessment is a 'generic term for a process that seeks to blend administration planning, analysis and public involvement in assessment prior to taking decision'2. This is an approach, which seeks to improve development by prior assessment.
Impact Assessment as multiple uses. EIA is more than a technocratic tool, and can be used as a policy instrument, a planning tool, and a means for public involvement. It goes beyond its predictive values to improve decision-making and environmental management in the politico-social environment.
Improves financial planning through the identification of future and potential capital, operating and maintenance costs associated with the activities related to environment thus strengthening the bottom line of the corporate.
Risk Assessment: can be described by following the definition of Munn (1979) as a process of identifying the likely consequences for the bio-geo-physical environment and for man's health and welfare of implementing particular activities and for carrying this information, at a stage when it can materially affect their decision, to those responsible for sanctioning those proposals.4
Risk Assessment can be defi ...