Definition of Risk: We all need a 'Go to'
A short video and a minor 'rant'.
ISO 31000:2018 - Risk = "The effect of uncertainty on objectives". Many think this definition is too simplistic.
Personally, I like the definition and feel it is very useful once I learned the 'supporting notes' to the definition. As Consultants or those who manage risk, we would be surprised by how many people are unable to consistently articulate a 'version' of the definition or risk.
Note1* The supporting Notes the 31000 definition are critical to my appreciation of the definition
Note2* I also managed to slide in something this morning .... oh, the joys of other peoples dogs.
If you're new to risk management, I hope the video helps.
Andy - PCR Global
