Disaster risk reduction (DRR) is a systematic approach to identifying, assessing, and reducing the risks of disaster. It aims to reduce socio-economic vulnerabilities to disaster as well as dealing with the consequences of disasters. DRR is the policy objective of disaster risk management (DRM), and its goals and objectives are defined in disaster risk reduction strategies and plans. The term disaster risk management is often used in the same context and to mean much the same thing as DRR. However, DRM is more properly applied to the operational aspects of DRR: the practical implementation of DRR initiatives.

DRR is very wide-ranging and its scope is much broader and deeper than conventional emergency management. Disaster risk management comprises processes and actions to achieve DRR objectives. Disaster risk management actions can be distinguished between prospective disaster risk management, corrective disaster risk management, and compensatory disaster risk management, also called residual risk management.

Prospective disaster risk management activities address and seek to avoid the development of new or increased disaster risks. Corrective disaster risk management activities address and seek to remove or reduce disaster risks which are already present and which need to be managed and reduced now. Compensatory disaster risk management activities strengthen the social and economic resilience of individuals and societies in the face of residual risk that cannot be effectively reduced.

DRR involves everyone in society, including governments, UN agencies, organizations, businesses, and civil society. It includes disciplines like disaster management, disaster mitigation, and disaster preparedness, but DRR is also part of sustainable development. In order for development activities to be sustainable, they must also reduce disaster risk.