Frans Minnaar, Management Advisor

Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion implies that a choice having an influence on the outcome exists (or existed). Potential losses themselves may also be called "risks". Almost any human endeavor carries some risk, but some are much riskier than others. There are two elements to this definition, namely: 1) Risks are related to Objectives; with specific reference to t