15 min
What is Risk? KISS risk management with Andrew Sheves
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- Ledarskap
Risk and risk discussions are often hampered by inconsistent terminology and a high degree of subjectivity. To overcome this, we need to understand what we mean when we ask 'what is risk?'. This article lays out a concept for risk using the ISO definition - the effect of uncertainty on objectives. It breaks individual risks into their three main components: threat, vulnerability and impact for downside risks or opportunity, and exposure and impact for upside risks. These concepts form the basis for all subsequent risk discussions and lay the groundwork for a risk assessment methodology.
This episode is also available as a blog post: https://andrewsheves.com/2017/02/24/what-is-risk/
Risk and risk discussions are often hampered by inconsistent terminology and a high degree of subjectivity. To overcome this, we need to understand what we mean when we ask 'what is risk?'. This article lays out a concept for risk using the ISO definition - the effect of uncertainty on objectives. It breaks individual risks into their three main components: threat, vulnerability and impact for downside risks or opportunity, and exposure and impact for upside risks. These concepts form the basis for all subsequent risk discussions and lay the groundwork for a risk assessment methodology.
This episode is also available as a blog post: https://andrewsheves.com/2017/02/24/what-is-risk/
15 min