TAKE THE NEEDED RISK TODAY

As the word entails, it is unavoidable and present in every human situation. It is present in daily lives, public and private sector organizations. Depending on the context (insurance, stakeholder, technical causes) there are many accepted definition of risk in use.
The common concept in all definition is uncertainty of outcomes. Where they differ is in how they characterize outcomes. Some describe risk as having only adverse consequence, while other are neutral. One description of risk is the following risk refers to the uncertainty that surrounds future events and outcomes. It is the potential to influence the achievement of an organization's objectives. The phrase "the expression of the likelihood and impact of an event" implies that as a minimum, some form of quantitative or qualitative analysis is required for making decision concerning major risks or threats to the achievement of an organization's objectives. For each risk, two calculations are required: It's likelihood or probability; and the extent of the impact or consequences.