An automated process has detected links on this page on the methods risk children or global blacklist. Risk is the potential of gaining or losing something of value. Risk perception is the subjective judgment people make about the severity and probability of a risk, and may vary person to person. Any human endeavour carries some risk, but some are much riskier than others.
1621, and the spelling as risk from 1655. Risk is an uncertain event or condition that, if it occurs, has an effect on at least one objective. The probability of something happening multiplied by the resulting cost or benefit if it does. The probability or threat of quantifiable damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action. Finance: The possibility that an actual return on an investment will be lower than the expected return. Securities trading: The probability of a loss or drop in value. Systematic risk affects all securities in the same class and is linked to the overall capital-market system and therefore cannot be eliminated by diversification.
Non-systematic risk is any risk that isn’t market-related. Workplace: Product of the consequence and probability of a hazardous event or phenomenon. ISO Guide 73:2002 definition of risk is the ‘effect of uncertainty on objectives’. Very different approaches to risk management are taken in different fields, e. Risk can be seen as relating to the probability of uncertain future events. Risk is ubiquitous in all areas of life and risk management is something that we all must do, whether we are managing a major organisation or simply crossing the road.
When describing risk however, it is convenient to consider that risk practitioners operate in some specific practice areas. Economic risks can be manifested in lower incomes or higher expenditures than expected. The causes can be many, for instance, the hike in the price for raw materials, the lapsing of deadlines for construction of a new operating facility, disruptions in a production process, emergence of a serious competitor on the market, the loss of key personnel, the change of a political regime, or natural disasters. Risks in personal health may be reduced by primary prevention actions that decrease early causes of illness or by secondary prevention actions after a person has clearly measured clinical signs or symptoms recognised as risk factors. In epidemiology, the lifetime risk of an effect is the cumulative incidence, also called incidence proportion over an entire lifetime. One of the strongest links between these is that a single risk event may have impacts in all three areas, albeit over differing timescales.
Over time, a form of risk analysis called environmental risk analysis has developed. Environmental risk analysis is a field of study that attempts to understand events and activities that bring risk to human health or the environment. As such, risk is a function of hazard and exposure. Hazard is the intrinsic danger or harm that is posed, e. Exposure is the likely contact with that hazard.