Risk Definitions

Question 1

Project Risk

Answer 1

The exposure of stakeholders to
the consequence of variation in
outcome. The overall risk affecting
the whole project.

Question 2

Risk Event

Answer 2

An uncertain event or set of
circumstances, that should it, or
they occur, would have an effect
on the achievement of one or
more of the project’s objectives.

Question 3

Threat

Answer 3

A negative risk; a risk that if it
occurs will have a detrimental
effect on the project.

Question 4

Opportunity

Answer 4

A positive risk; a risk that if
it occurs will have a beneficial
effect on the project.