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Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]
Example of risk assessment: A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, evaluation, and prioritization of risks, [1] followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. [2]
Risk is the probability that exposure to a hazard will lead to a negative consequence, or more simply, a hazard poses no risk if there is no exposure to that hazard. Risk is a combination of hazard, exposure and vulnerability. [11] For example in terms of water security: examples of hazards are droughts, floods and decline in water quality. Bad ...
Business risk implies uncertainty in profits or danger of loss and the events that could pose a risk due to some unforeseen events in future, which causes business to fail. [ 1 ] [ 2 ] [ 3 ] For example, a company may face different risks in production, risks due to irregular supply of raw materials , machinery breakdown, labor unrest, etc.
Cambridge Advanced Learner's Dictionary 3rd Edition CD-ROM. The Cambridge Advanced Learner's Dictionary (abbreviated CALD) is a British dictionary of the English language. It was first published in 1995 under the title Cambridge International Dictionary of English by the Cambridge University Press. The dictionary has over 140,000 words, phrases ...
Quantitative uses of the terms uncertainty and risk are fairly consistent among fields such as probability theory, actuarial science, and information theory. Some also create new terms without substantially changing the definitions of uncertainty or risk. For example, surprisal is a variation on uncertainty sometimes used in information theory ...
This could be an opportunity to rebalance your portfolio to reduce (or increase) your risk, or it might be an opportunity to think about some new projects you want to undertake. 9 Questions ...
Financial risk management is the practice of protecting economic value in a firm by managing exposure to financial risk - principally credit risk and market risk, with more specific variants as listed aside - as well as some aspects of operational risk.