⊿ Point. {R} Glossary. ◢ Keyword: R. ◥ University. {q} PhD. {tr} Training. ⚫ UK. ⚫ England. ↂ EndNote. {q} NS: BPM. Risk. Risk is the potential of losing something of value, weighed against the potential to gain something of value. Values (such as physical health, social status, emotional well being or financial wealth) can be gained or lost when taking risk resulting from a given action, activity and/or inaction, foreseen or unforeseen.
Risk can also be defined as the intentional interaction with uncertainty. Risk perception is the subjective judgment people make about the severity of a risk, and may vary person to person. Any human endeavor carries some risk, but some are much riskier than others.[1] Definitions[edit] Firefighters at work Risk can be defined in a variety of ways. Basic definitions[edit] The probability of something happening multiplied by the resulting cost or benefit if it does. International Organization for Standardization[edit] The ISO 31000 (2009) / ISO Guide 73:2002 definition of risk is the 'effect of uncertainty on objectives'. Other[edit] History[edit] Practice areas[edit] Health[edit] Intellectual Risk.