ABSTRACT
Risk is a measure of the probability and consequence of uncertain future events. The evolving science of risk analysis covers the tasks of risk management, risk assessment, and risk communication with an intentional focus on uncertainty. Risk identification is best accomplished by identifying: the trigger event, the hazard or opportunity for uncertain gain, the specific harm(s) that could result from the hazard or opportunity, and the sequence of events necessary for the hazard or opportunity to result in the identified harm(s). Risk analysis is a comparatively young science that has been widely applied by public sector organizations to improve decision making. In recent years, it has been adopted by a growing number of private sector organizations. Risk analysis is for organizations that make decision under uncertainty. The language of risk analysis is unsettled and still evolving.
