What is risk

• The chance of something happening that will have an impact.
• The likelihood of something happening and the severity of it’s consequences.
• Could it happen and would it hurt ?
• ISO 31000, Risk = The effect of uncertainty on our objectives
• Risk is present in everything we do OR not do
• It is the UNCERTAINTY that surrounds future events and outcomes.
• Risk can be a threat or an opportunity

How is it measure?

• Risk is measured in terms of likelihood and impact
• All decisions involve some sort of risk

–How do you ensure that the decisions you take don’t have a negative impact on your work?

–To be effective, it should be at the forefront of daily business and decision making