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Tejas
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Risk Versus Uncertainty
In the management of risk, what is the distinction between risk and uncertainty? Thanks..
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Balachandran Nair
Bank Official, India
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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.
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Hisham Albuolayan
Analyst, Saudi Arabia
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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.
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Sandris, Latvia
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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?
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Nelson Hernandez Manso, Spain
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Risk Versus Uncertainty
Risk can be an opportunity or a threat.
We can put 3% more money for the threat of change the supplier.
We will watch ...
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Mark Scherling, Canada
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Risk is an Identified Uncertainty
Risk is an identified uncertainty that we consider in planning. Typically we are unsure about the scope or probability t...
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Raj Kumar
Management Consultant, India
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Risk and Uncertainty
Risk is uncertainty that matters.
This means that all that is uncertain is not risk. However, when a firm thinks the un...
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oscar piedra
Financial Consultant, Afghanistan
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Differences Between Risk and Uncertainty
Some economists like Keynes and Knight thought and wrote about the distinction betweeen risk and uncertainty:
- In the ...
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Barbara Dickerson
Manager, United States
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What is the Distinction Between Risk and Uncertainty
To quote a CE course that I have just taken: "Risk is defined as uncertainty concerning loss. The two key words here are...
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Khalil Shahriari PMP
Management Consultant, Iran
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1st Law of Risk Management
The first law of risk management is that risk is uncertain.
A risk is something in the future that might or might not o...
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