Uncertainty about a situation can often indicate risk , which is the possibility of loss, damage, or any other undesirable event. Most people desire low risk, which would translate to a high probability of success, profit, or some form of gain.
Risk is the possibility of loss, damage, or any other undesirable event.
If a shipping delay means losing orders, then that possibility presents a risk. How significant is the risk Almost any change, good or bad, poses some risk. Once the risks have been identified, a model can help you quantify the risks. Quantifying risk means putting a price on risk, to help you decide whether a risk is worth taking. 2000-2001 Decisioneering, Inc.