Risk is a measure of the extent to which an entity is threatened by a potential by an Unfortunate event, and typically is a function of:
  • the adverse impact that would arise if the circumstance or event occurs
  • the likelihood of occurrence

Risk. In everyday usage. is often used synonymously with the Magnitude of the Potential loss. Paradoxically, a probable Magnitude of the Potential loss can be uncertain and relative in an individual event while having a certainty in the aggregate of multiple events.

Types of Risk#

Risk must be analysed with a Risk Assessment

More Information#

There might be more information for this subject on one of the following:
  • [#1] - Risk - based on information obtained 2013