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2. Risk concept and definitions
"Danger or peril in which the idea of chance is involved, but with the prospect of some possible advantage. It is in view of these advantages that man assumes risks, but, usually, while insuring himself as much as possible against them."
This is an original definition of risk, in that it sets out in very few words not only the fundamental characteristics of risk, but also some of the key issues and motivations for risk management. What's more, this definition stands out insofar as it justifies risk-taking by the prospect of potential benefits, when many others see risk only as future problems. Yet this relationship between risk and benefit...
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Risk concept and definitions
Risk mechanism in business
Bibliography
Standards and norms
- Management du risque, principes et lignes directrices. - ISO 31000 - 2010
- Lignes directrices relatives à la responsabilité sociétale. - ISO 26000 - 2010
- Risk management – Vocabulary. - Guide ISO/CEI73 - 2002
- Risk management – Risk estimation guidelines. - FD X 50-252 - 2006
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Association pour le management des risques et des assurances de l'entreprise (AMRAE) :
Risk Management Institute (IGRC) :
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