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What is Risk

Handbook of Research on Project Management Strategies and Tools for Organizational Success
It is an uncertain event or condition that, if it occurs, has an effect on at least one of the project's objectives. Objectives may include scope, timing, cost and quality.
Published in Chapter:
Model Based on Ontological Engineering as Support for Stakeholder Management
Beitmantt Geovanni Cárdenas Quintero (Universidad Francisco José de Caldas, Colombia), Flor Nancy Díaz-Piraquive (Universidad Catolica de Colombia, Colombia), and Hilma Ximena Fonseca Ruiz (Universidad Militar Nueva Granada, Colombia)
DOI: 10.4018/978-1-7998-1934-9.ch013
Abstract
The objective of this article is a way of working that is used as an instrument for managing the parts with semantic and conceptual elements, such as mastery of management projects, and the effects of ontological engineering techniques, which solves frequently asked questions with respect to information related to this resource. This is done in an agile, precise, and effective way, facilitating its management in the phases that make up the life cycle of the project. The research will contribute to the integration of ontological engineering and project management, enabling the construction of a stakeholder information structure with semantic components that enable it to be the input of a more complex knowledge management model.
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Creating a Climate of Fear: The Case of Las Vegas
The probability of a harmful action (e.g. damage, injury, death or illness) associated with a hazard.
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Knowledge Sharing and IT/Business Partnership: An Integrated View of Risk Management
Risk is the possibility of loss or injury; someone or something that creates or suggests a hazard.
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Diffusion of Innovations Theory: Inconsistency Between Theory and Practice
connotes a possible negative impact to something of value. It symbolises the probability of a loss.
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Improving Emergency Management Training Within Organizations: TiER-Tool – A Serious Game
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The Method RAB2/E Matrix: An Approach for Effective Program and Project Portfolio Prioritization Procedures
Evaluation of the possibilities of occurrence of Situations or Facts, which generate impact in the execution of a planning, with the definition of applicable Workaround Solutions.
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Managing E-Collaboration Risks in Business Process Outsourcing
The likelihood or probability of some consequence seen as undesirable, although the term is often used synonymously with “downside.” Risk exposure is calculated as the probability of an undesirable consequence multiplied by its (negative) magnitude.
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Security of Cloud Computing
The net negative impact of the exercise of vulnerability.
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Industry Process Safety: Major Accident Risk Assessment
Combination of consequences and probabilities of undesirable event.
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Making Sense of Journalists' Safety and Media Freedom in Egypt Between Different Types of Threats and the Ruling Legislative Context: Multi-Analytical study
An unsafe situation or condition that practicing journalists are susceptible to get involved in, due to antecedents or circumstances associated with his or her newsgathering job.
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Dynamic Risk Assessment in IT Environments: A Decision Guide
An estimation of the degree of exposure to a threat that may occur on one or more assets causing damage to an organization.
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An Overview of IT Outsourcing in Public-Sector Agencies
Risk is the potential harmful or undesirable consequences (downsides) that might arise in the future from a decision or course of action. Examples in the context of ITO include the release of confidential data, loss of organizational knowledge, and reduced business flexibility.
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Reliability Growth Models for Defect Prediction
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A Framework for Ameliorating Risk in Australian University Crowdfunding
The measure of the chance of harm occurring ( Mann & Blunden, 2010 ).
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Requirements and Life Cycle Model-Based Assessment of NPP I&C Systems Cyber Security and Safety
The level of impact on agency operations (including mission, functions, image, or reputation), agency assets, or individuals resulting from the operation of an information system, given the potential impact of a threat and the likelihood of that threat occurring.
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Threat Modeling and Secure Software Engineering Process
Is the probability that something undesired happens combined with the expected loss associated with the event.
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Risk Assessment: Knowledge Management Paradigms, Big Data, and Aviation Policy Making
Anything that can have a minor, major or severe effect and has a probability of occurring.
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National Security Policy and Strategy and Cyber Security Risks
The potential for an unwanted or adverse outcome resulting from an incident, event, or occurrence, as determined by the likelihood that a particular threat will exploit a particular vulnerability, with the associated consequences.
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Significance of Forensic Accounting Techniques in Corporate Governance: Bibliometric Analysis
Is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value, often focusing on negative, undesirable consequences. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives.”
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Privacy of Information and Data: Policies, Threats, and Solutions
It is the impact and likelihood of damage that may arise as a result of threats.
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Risk-Based Selection of Portfolio: Heuristic Approach
The probability that an actual return on an investment will be lower than the expected return.
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Adaptation to Climate Change for Sustainable Development: A Survey
Risk is the potential of losing something of value. Values can be gained or lost when taking risk resulting from a given action, activity and/or inaction, foreseen or unforeseen. Risk can also be defined as the intentional interaction with uncertainty, which is a potential, unpredictable, immeasurable and uncontrollable outcome. Risk is a consequence of action taken in spite of uncertainty.
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The Challenge of Adequately Defining Technical Risk
Traditionally is considered to be the likelihood and impact of one or more vulnerabilities being realized.
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Tourism Security: A Conceptual Insight
Potential danger which is open to the contingency, which means the possibility to be avoided.
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Current Scenario of Youth Entrepreneurship in India
To take a chance on a possible course of action to achieve a desired result.
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Imperatives of Risk Analysis and Asset Management on Cyber Security in a Technology-Driven Economy
Risk is an exposure to the possibility of loss, injury, or other adverse or unwelcome circumstances; a chance or situation involving such a possibility.
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The Strategic Determinants of Shared Services
Risk is an undesired outcome that has a known or estimated probability of occurrence and impact based on experience or some theory.
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Fuzzy Logic Approach in Risk Assessment
The possibility of any event occurring that may stop businesses or companies from achieving their strategic, financial and operational goals.
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Information Systems Risk Management: An Audit and Control Approach
A risk is a circumstance or event that has the potential to hinder achievement of objectives or cause harm.
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A Framework for Risk Management in AI System Development Projects
An uncertainty that an interested event/activity will not meet expected outcome.
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Ensuring the Guaranteed Level of Flight Safety: The View of the Future
The probability of a hazard escaping from under control and the severity of the consequences, expressed by the degree of manifestation.
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Corporate Governance in Portugal: A Literature Review
Level of exposure to uncertain future events that may damage firms’ financial stability and profitability.
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Responsibilities and Liabilities with Respect to Catastrophes
A measure of the expected loss of an event. The product of the magnitude of a loss and the probability of its occurrence.
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Analysis of the Determinants of Initial Trust on a Virtual Leader
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Cybersecurity Risk: Assessment and Management
The likelihood of anything unpleasant occurring. Uncertainty regarding the effects/consequences of an activity on something that humans value, with a concentration on negative, unwanted outcomes, is referred to as risk.
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Urban Flood Management Under Changing Climate: A Land Use-Based Study of Kochi Urban Area, Kerala
Risk is defined as the potential disaster losses, in lives, health status livelihoods, assets and services, which could occur to a particular community or a society over some specified future time period. Disaster risk signifies the possibility of adverse effects in the future ( UNISDR, 2009 AU91: The citation "UNISDR, 2009" matches multiple references. Please add letters (e.g. "Smith 2000a"), or additional authors to the citation, to uniquely match references and citations. ).
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The Value of Flexibility
Denotes the potential impact on an attribute of value that a future event may cause. In finances, represents the variability of returns a given investment may have. In the context of this chapter, risk is reflected, among other variables, in the uncertainty of the requirements a custom enterprise application may need to fulfill in the future.
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Emerging Market Sovereign Debts as a Means for Profit Maximization and Portfolio Diversification
Often defined as the standard deviation of the return on total investment. Degree of uncertainty of return on an asset.
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An International Overview of the Electronic Financial System and the Risks Related to It
Possibility to manifest a phenomenon, act, or fact that may cause damage, loss, or may have a negative impact on the activity of an entity.
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Reviewer Motivations, Bias, and Credibility in Online Reviews
Perceptions of uncertainty and adverse consequences of engaging in an activity.
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Enterprise Risk Management and Bankruptcy
It is used synonymously with the word uncertainty.
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Fraud Risk Management for Listed Companies' Financial Reporting
Possibility to manifest a phenomenon, act, or fact that may cause damage, loss, or may have a negative impact on the activity of an entity.
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Cybercrimes Technologies and Approaches
The probability of a vulnerability being exploited.
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IT Resources as Risk Mitigators: The Case of Spanish Bankrupt SMEs
The inability to know in detail all the relevant factors of a problem and to forecast with certainty the outcomes of a decision, due to imperfect and incomplete information.
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Information Security Risk Management in the European Union
Is defined as the probability that a threat to exploit the vulnerabilities of property belonging to the organization and thereby cause injury organization.
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International Joint Ventures at the Crossroads: Building Leadership Bridges
Is the exposure to liability in any joint venture or shared leadership role. Thus, effective organizational outcome is dependent on the level of performance, reputation, and information shared among joint venture relationships.
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The Influence of Technology on Privacy Boundary Management in Young Adults' Sexting Relationships: A Communication Privacy Management Perspective
The potential consequences associated with the sharing of private information (i.e., sexts), including the possibility of having private information shared with a third party.
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Health, Safety, and Security as a Part of Events Management
A form of uncertainty and potential for that uncertainty that could cause damage or loss to the organization.
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Visionary Leadership: Learning from Exemplary Organizations
A situation of potential exposure to harm, which may lead to a loss of value in an organization, or a negative impact upon an individual.
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Crime and Victimization in Cyberspace: A Socio-Criminological Approach to Cybercrime
A potential loss or damage when a threat exploits a vulnerability. Risk is function of threat and vulnerability and impact.
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A Hybrid Asset-Based IT Risk Management Framework
It is a measure of how open assets are against potential threats.
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The Epistemology of Tourism Security: Methodological Discussions Revolving Around Tourism Security and Safety
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The Emergence of Biobanks: Between Ethics, Risks, and Governance
Risk is a threat, a source of uncertainty, a combination of danger and opportunity. It is perceived in a specific cultural and time context.
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Risk of Business Bankruptcy: The Application of DEA Method – Case Study of Slovak Businesses
A characteristic of the activity that lies in the fact that the result of the activity is uncertain, and in case of failure, there are adverse consequences.
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The Risks Associated With ITIL Information Security Management in Micro Companies
A possible event that could cause harm or loss or make it more difficult to achieve objectives.
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Practical Align Overview of the Main Frameworks Used by the Companies to Prevent Cyber Incidents
A relationship between probability and impact or consequence of a threat or a situation. It may be positive or negative.
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SMEs in the Face of Crisis: The Supply Chain Risk Management Perspective
In business, any factor that has an adverse impact on profitability.
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IT Continuity in the Face of Mishaps
Probability of a loss; sometimes, the probability of a loss multiplied by the exposure.
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Data Guided Public Healthcare Decision Making
It is the expected loss due to uncertain random outcomes. A state of uncertainty where some possible outcomes have an undesired effect or significant loss.
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Nanotechnology Safety and Security: Nanoparticles and Their Impact on the World
can be defined as a function of probability and magnitude of losses.
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Lessons From COVID-19 Conferring Environmental Re-Engineering Opportunity
Is the probability, depending on how high or low a hazard will cause harm. Risk is determined by vulnerable conditions associated with physical surroundings, social setup, environmental factors, or economic factors.
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Risk Management in the Digital Economy
In a limited manner, the decision situation in which the full range of possible outcomes are known with certainty and the probability of their occurrence can be assessed accurately, usually by some objective means (e.g., rolling the dice is a classic risk decision situation). More usually, the probabilities must be assessed subjectively, often based on previous experiences or intuition, and the outcomes themselves may not be fully identifiable. The term “risk” is used commonly to generally define decision situations that are really a combination of classical risk and uncertainty that is, the more normal decision situation in organizations.
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Supervising System and Business Control of Local Self-Government Units in Performance Audit Function
Implies that a particular activity will not be successfully performed because there is a lack of control over that activity, which can cause consequences and has to be removed from that activity.
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Effects of Economic and Political Risks on Foreign Direct Investment: A Panel Data Analysis in MENA Region
A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.
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Financial Risk and Financial Imbalances: Does Information Technology Matter?
The inability to make perfect forecasts about future facts, e.g. the outcomes of an investment or the consequences of a decision, because available information is incomplete.
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Estimating Risk with Copulas
According to ISO 31000:2009, a global risk management standard, authored by the International Standards Organization, risk can be described as the ‘effect of uncertainty on objectives’. In this definition, ‘risk’ is considered as a symmetric concept: with a potential for a gain and a loss.
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Reliability Engineering Techniques Applied to the Human Failure Analysis Process
The chance of a loss or the degree of probability of such loss.
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The Immune Space: Monitoring Narratives in Contemporary Pandemic
A conceptual device, produced by political vision and consolidated by city's one, through which authority uses power in function of an increasingly worse future scenario.
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Potential Outcomes of Digital Burnout in Second Language Learning: Understanding the Risks and Mitigating Strategies
Risk is the likelihood that an event may negatively impact someone's ability to accomplish their goals.
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Hexa-Dimension Metric, Ethical Matrix, and Cybersecurity
Is more than is more than physical damages, financial losses, and criminal sanctions. Using the technologies in contradiction to ethical principles is a techno-ethical risk or ethical risk. There are also speculative risk (if the outcome of ethical actions will bring about gains and unethical actions will yield a loss), dynamic risk (if the chance of occurrence is associated with technological change or change in general including man-made change).
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The Security, Privacy, and Ethical Implications of Social Networking Sites
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Fuzzy Logic Approach in Risk Assessment
The possibility of any event occurring that may stop businesses or companies from achieving their strategic, financial and operational goals.
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Silencing the Media and Chaining the Watchdog: Threats to Journalist Safety During Elections in Nigeria
An unsafe situation or condition that a practicing journalist gets involved in due to antecedents or circumstances associated with his or her newsgathering job.
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Internal Control and Assets Management
Is the potential exposure to an unexpected event or unintended situation or outcome.
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Underwriting Automobile Insurance Using Artificial Neural Networks
An individual or organization’s exposure to a chance of loss or damage.
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The Operational Risk Assessments in Manufacturing Industry
A probability or threat of hazard, damage, loss, or any negative event that is caused by vulnerabilities.
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Fuzzy Hybrid FMEA for Risk Assessment in Service Industry: An Integrated Intuitionistic Fuzzy AHP and TOPSIS Approach
The unexpected situations that can cause undesirable or negative consequences.
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Sustainability, Risk, and Business Intelligence in Supply Chains
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Health Communication During the COVID-19 Pandemic in Hungary
Communication: Interaction process, exchange and dissemination of real-time information to the public about threatening health, social or economic situations. The main purpose of the communication is to support the people at risk and to help informed decisions.
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Project-Based Software Risk Management Approaches
Risk refers to a possibility of loss, the loss itself, or any characteristic, object, or action that is associated with that possibility” ( Kontio, 2001 ).
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Surveillance Design After Initial Detection
A combination of the likelihood of occurrence and the consequences of the occurrence.
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Emerging Standards and Protocols for Governance, Risk, and Compliance Management
The possibility of an event impacting an organization’s objectives. Usually considered to be composed of the probability combined with the severity or impact of loss events. Mathematically, a risk index can be represented as a convolution integral over the event probability distribution of the impact distribution. In practical approaches, events are often categorized according to causes and business areas and risk scores are estimated on several levels of detail.
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Analyzing Diffusion and Value Creation Dimensions of a Business Case of Replacing Enterprise Systems
Connotes a possible negative impact to something of value. It symbolises the probability of a loss.
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A Safer Place for Women: Online Education
A feeling of dread that one will not be able to control an adverse outcome.
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Social Media Analytics for Maintaining Financial Stability
When the outcome of an event is uncertain, but one is aware of the probabilities of each outcome, the outcome is said to possess risk.
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Reviewer Motivations, Bias, and Credibility in Online Reviews
Perceptions of uncertainty and adverse consequences of engaging in an activity.
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Are Risks in IT Global and Local Projects the Same?: Systematic Literature Review of the Last 20 Years
It is a situation that can influence the project goals and outcomes, depending upon the probability of occurrence and impact of loss. This impact cannot be completely eliminated, but if well managed it can be reduced.
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Importance of Risk Management and Risk Management Process
The uncertainty involved in the possibility of an event occurring.
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Information Security Policies: Precepts and Practices
is the possibility of harm or loss to any software, information, hardware, administrative, physical, communications, or personnel resource.
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Auditing Agile Release Management: Balancing Speed and Control
The probability that an IT failure or abuse will have an undesired, detrimental business impact.
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The Usage of GIS in Realizing Engineering Education Quality
An activity, connected with uncertainty overcoming in a stark choice situation, where there is a possibility of numerical and qualitative estimation of supposed result achievement probability, failure, and divagations from the purpose.
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Health Risk Communication and Media
The possibility of an adverse situation or event occuring.
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Risk and Risk Aversion in Supply Chain Management
The direct or indirect undesirable consequences of controllable or uncontrollable events which affect an individual, a section of individuals or a society at large.
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The Effects of Political and Economic Risk on FDI: A Theoretical Survey
Probability of an event happening and its negative results (costs) for the related actors.
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A Knowledge-Based Risk-Driven Model Supporting Collaborative Online Course Creation
A risk is an activity or event that if it occurs, can cause compromise the success of a project.
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Risk Assessment in the Information Technology Industry: An Imperative Phenomenon
The possibility of unexpected variation in the expected results is called risk.
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Interplay Consequences of COVID-19 on Global Environmental Sustainability
Is the probability, depending on how high or low a hazard will cause harm. Risk is determined by vulnerable conditions associated with physical surroundings, social setup, environmental factors, or economic factors.
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Decision Making Under Uncertainty and Risks in the Face of Rapidly Advancing Technologies
Exposure to the chance of injury or loss; a hazard or dangerous chance. It refers also to the degree of probability of a loss. The type of loss can be as life, fire, marine disaster, earthquake, etc.
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Cybersecurity Risk: The Business Significance of Ongoing Tracking
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The Reasons Leading Businesses to Concordat and Solution Suggestions
It is the probability that an event will occur and adversely affect the success of the organization in achieving its goals.
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Understanding the Financial Derivatives Instruments
Can be defined as “the diversion of actual result from the expected”.
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The Theory of Risk Perception Geared to Tourism and Hospitality Fields
Potential danger which is open to the contingency, which means the possibility to be avoided.
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Measurement of the Staff Resilience of the Technological Institute Lázaro Cárdenas
Possibility of a mishap or misfortune, of someone or something suffering harm or damage. Situation in which that possibility can occur.
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The Society of the Digital Swarm: Microblogging and Construction of Subjectivity in Homo Digitalis
The possibility of the loss of the reality principle and the disappearance of the public man.
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A Structured Approach to Developing a Business Case for New Enterprise Information Systems
Connotes a possible negative impact to something of value. It symbolises the probability of a loss.
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