definition Risk

people express risk in different ways . To some , it' the chance or possibility of loss to others , it's may uncertain situations or deviations or what statisticians call dispersions from the expectations different authors on the subject have defined risk differently however , in most

Of the terminology the term risk includes exposure to adverse situations .

The indeterminateness of outcomes is one of the basic criteria to define a risk situation also when the outcomes is indeterminate , there is possibility

That some of them may be adverse and therefore need special emphasis .

Let’s have a look at the popular definitions of risk :

According to the dictionary , risk refers to the possibility that something unpleasant or dangerous might happen .

Risk is a condition in which where is a possibility of an adverse deviations from a desired outcome that is expected or hoped for .

At its most general level , risk is used to describe any situation where there is uncertainty about that outcome will occur .

The degree of risk refers to like hood of occurrence of an event , it’s a measure of accuracy with which the outcome of chance event can be predicted .

In most of the risky situations tow elements are commonly found :

1- The outcomes is uncertain there is a possibility that one or other(s) may occur , therefore logically there are at least two possible outcomes for gives situation .

2- Out of the possible outcomes , one is unfavorable or not liked by the individual or the analyst .