Calculating the difference in negative and positive features of a process, service, or operation. By assessing risk, organizations can determine exactly how much there is to gain from changing an aspect of a system or process.
Risk is the possibility of something bad happening, comprising a level of uncertainty about the effects and implications of an activity, particularly negative and undesirable consequences.
Risk theory, assessment, and management are applied but substantially differ in different practice areas, such as business, economics, environment, finance, information technology, health, insurance, safety, security, and privacy. The international standard for risk management, ISO 31000, provides general guidelines and principles on managing risks faced by organizations.
English
Alternative forms
- risque (archaic)
Etymology
From earlier risque, from Middle French risque, from Old Italian risco (“risk”) (modern Italian rischio) and rischiare (“to run into danger”). Displaced native Old English pleoh (“risk”) and plēon (“to risk”).
Pronunciation
- IPA(key): /ɹɪsk/
- Homophones:
