CHAPTER 3

Introduction to Risk

  • Definition of risk
  • Risk examples: risk business case
  • Different types of risks
  • Risk management process
  • Risk categories

Chapter Outline

  • Define risk and provide examples
  • Illustrate various risk areas
  • Illustrate risk process areas in detail
  • Determine risk mitigations
  • Illustrate risk standards

Key Learning Points

  • Learn and understand risk
  • Identify risk areas
  • Mitigate risk
  • Understand what uncertainties exist
  • Analyze and determine which events must have a planned response
  • Adopt an approach for each risk event, defining what triggers a response
  • Maintain risk plans
  • Monitor risk occurrences

Definition of Risk

Risk can be defined as the possibility of gaining (good) or losing (bad) something such as financial benefits, ...

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