seismic events. Calculating Seismic Risk Earthquake source characterization Understanding the geological background on the site is a prerequisite for seismic hazard estimation. Formations of the rocks, subsurface structures, locations of faults, state of stresses and other parameters that contribute to possible seismic events are considered. Records of past earthquakes of the site are also taken into account. Recurrence pattern The magnitudes of earthquakes occurring at a source generally follow the Gutenberg-Richter relation that states that the number of earthquakes decrease exponentially with increase in magnitude, as shown below, where is the magnitude of seismic events, is the number of events with magnitudes bigger than , is the rate parameter and is the slope. and vary for different sources. In the case of natural earthquakes, historical seismicity is used to determine thse parameters. Using this relationship, the number and probability of earthquakes exceeding a certain magnitude can be predicted following the assumptions that earthquakes follow a Poisson process. However, the goal of this analysis is to determine the possibility of future earthquakes. For induced seismicity in contrast to natural seismicity, the earthquake rates change over time as a result of changes in human activity, and hence are quantified as non-stationary processes with varying seismicity rates over time. Ground motions At a given site, the ground motion describes the seismic waves that would have been observed at that site with a seismometer. In order to simplify the representation of an entire seismogram, PGV (peak ground velocity), PGA (peak ground acceleration), spectral acceleration (SA) at different period, earthquake duration, arias intensity (IA) are some of the parameters that are used to represent ground shaking. Ground motion propagation from the source to a site for an earthquake of a given magnitude is estimated using ground motion prediction equations (GMPE) that have been developed based on historical records. Since historical records are scarce for induced seismicity, researchers have provided modifications to GMPEs for natural earthquakes in order to apply them to indced earthquakes. Seismic hazard The PSHA framework uses the distributions of earthquake magnitudes and ground motion propagation to estimate the seismic hazard - the probability of exceeding a certain level of ground shaking (PGA, PGV, SA, IA, etc.) in the future. Depending on the complexity of the probability distributions, either numerical methods or simulations (such as, Monte Carlo method) may be used to estimate seismic hazard. In the case of induced seismicity, the seismic