Define the term risk in risk managementriskit is the, Ask an Expert

Management Studies

Define the term risk in risk management.

Risk:

It is the probability or chance of something which may or may not arise; this is something that can be quantified by using standard deviation.

Uncertainty:

It is something that cannot be predicted along with statistical confidence, normally because of insufficient information.

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Project Management, Management Studies

Category:- Project Management
Reference No.:- M9580548

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