Risk [Data Management Wiki]

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=====Risk=====

===Definition===
Risk is the [[general_term:effect|effect]] of uncertainty on [[general_term:objective|objectives]].

===Notes===
  * Risk is usually expressed in terms of 
    * Risk sources
    * Potential events
    * Their consequences
    * Their likelihood

===Relation===
|Risk|is child of|[[general_term/effect|effect]]|

===Life cycle===
  * Analyse risk. Output: [[general_term/risk_analysis|risk analysis]]
  * Accept risk
  * Assess risk
  * Calcutate risk
  * Mitigate risk
  * Reduce risk
  * Treat risk

===Example===
[[general_term:objective|Objective]] is that 95% of the telephone numbers in de customer file are [[data_quality_dimension/validity|valid]]. However, the front-end application doesn't check the [[data_concept/format|format]] of the telephone number. Therefore, it is uncertain if the customer always properly completes their telephone number. The [[general_term:effect|effect]] of this uncertainty can be, that the [[general_term:objective|objective]] will not be met.


===Reference===
ISO 31000 (2008). Risk management - Principles and guidelines.

{{tag>All DUMS}}

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