Risk

<p>In simple terms, risk is the possibility of something bad happening. Risk involves <a href="/facts/Uncertainty/VM9pnGvk">uncertainty</a> about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One <a href="/facts/ISO_standard/IacYR7Yg">international standard</a> definition of risk is the "effect of uncertainty on objectives".
</p><p>The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (<a href="/facts/Business/For1e8Nh">business</a>, <a href="/facts/Economics/HYctA2Dn">economics</a>, <a href="/facts/Environmental_science/svr8eCse">environment</a>, <a href="/facts/Finance/fLh1GgN8">finance</a>, <a href="/facts/Information_technology/glMzunwe">information technology</a>, <a href="/facts/Health/jjTlJf6m">health</a>, <a href="/facts/Insurance/06VP8I3B">insurance</a>, <a href="/facts/Safety/jyH5HLSg">safety</a>, <a href="/facts/Security/B4uxkyxh">security</a>, <a href="/facts/Privacy/C269YalS">privacy</a>, etc). This article provides links to more detailed articles on these areas. The international standard for risk management, <a href="/facts/ISO_31000/5DErxQSI">ISO 31000</a>, provides principles and general guidelines on managing risks faced by <a href="/facts/Organization/CR83f1Rn">organizations</a>.
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Risk open-in-new

Risk