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--- general_term:risk [2023/03/04 18:01]
peter
+++ general_term:risk [2024/03/08 13:33] (current)
@@ Line 2: / Line 2: @@
 ===Definition===
-Riks is the effect of uncertainty on [[general_term:objective|objectives]].
+Risk is the [[general_term:effect|effect]] of uncertainty on [[general_term:objective|objectives]].
 ===Notes===
-  * An effect is a deviation from the expected. It can be positive, negative or both, and can address, create or result in opportunities and threats.
   * Risk is usually expressed in terms of
     * Risk sources
@@ Line 12: / Line 11: @@
     * Their likelihood
-===References===
+===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}}