Risk Versus Uncertainty
In the management of risk, what is the distinction between risk and uncertainty? Thanks..
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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 suppl... Sign up
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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 sc... Sign up
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