In order to understand these
terms: risk management and risk management system, it is necessary first to
define the concepts related to the risks. Risk is defined as calculation forecast emergence of
negative events (hazards) that cause loss or calculation forecast emergence of
positive events (opportunities/chances), which bring us benefits.
Risk is a condition in which
there is a possibility of negative deviations from the desired outcomes that we
expect or hope will happen. In terms of business, risk is an
unfulfillment of desired business objectives and it must include threats and
opportunities from the environment that can potentially contribute to the growth
and development of the PBS, but prevent development, and thus endanger the very
survival of a PBS. The risk, in the broadest sense, is a particular danger,
uncertainty, loss, or the uncertain future event that may have unintended
consequences. The concept of risk comprises
three elements:
• The perception that something might happen.
• Probability that something happens.
• The consequences of what
might happen.
