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