Risk Versus Uncertainty

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Risk Versus Uncertainty

In the management of risk, what is the distinction between risk and uncertainty? Thanks..

  Balachandran Nair
Bank Official, India

Risk versus Uncertainty

In risk management there is a presupposition that an event may probably happen, and this lends itself to assessment. In uncertainty the probability remains zero at the outset.

  Hisham Albuolayan
Analyst, Saudi Arabia

Risk versus Uncertainty

For me RISK is an event that can be of negative effect to the organization. While UNCERTAINTY is the consequence of un-assessed risks.


Risk, Uncertainty, Reality, Loss and Probability

Risk is uncertain. If it is certain this is not a risk. Then it is a reality and we do not speak about risk. We can say then this is a loss. Losses can take place on a daily basis. So, there is no need to make an assumption what kind of risk can occur.
Uncertainty is the probability something will occur. How uncertain is a risk? Or we can also say: what is the probability a particular risk will occur?

  Nelson Hernandez Manso

Risk Versus Uncertainty

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  Mark Scherling

Risk is an Identified Uncertainty

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  Raj Kumar
Management Consultant, India

Risk and Uncertainty

Risk is uncertainty that matters. This means that (...)

  oscar piedra
Financial Consultant, Afghanistan

Differences Between Risk and Uncertainty

Some economists like Keynes and Knight thought and (...)

  Barbara Dickerson
Manager, United States

What is the Distinction Between Risk and Uncertainty

To quote a CE course that I have just taken: "Risk (...)

  Khalil Shahriari PMP
Management Consultant, Iran

1st Law of Risk Management

The first law of risk management is that risk is u (...)

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