أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
please write in details or References and further information
agree with Mr Ayoub
The risk is the probability that the hazardous event will happen.
In general, Risk = Threats X Vulnerabilities X Impact,
In other words, Risk defines the probability for any kind of threats to penetrate the weakness which cause a harmful effects.
Uncertain event or condition that, if it occurs, has an effect (impact) on any of the project objectives (Time, Cost, Quality, Scope)
Having the best people execute the plan does not guarantee success. There are a host of external factors which may play a role in determining the outcome regarding whether a project has been successful or not. These are called Project risks. The formal definition of a risk is an event or occurrence that may negatively impact the project.
Risks can be mitigated and even prevented. However this requires a good amount of understanding of the risks and advance planning. It is for this reason that DMAIC methodology in Six Sigma has risk assessment as an inbuilt step. You cannot ignore it if you truly follow the DMAIC philosophy.
To better understand risks, it is essential that we understand that risks fall into categories. The major categories of risk are as follows:
A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities.
I agree with Mr. Khalifa, and would like to draw your attention to the fact that, Risks may have negative or positive! (yes it is positive) effects on your project.
Good Explanation by MR. Alex and Mr. Tahir. i go with the Experts. Have Goody day.