MANAGEMENT

Detailed explanation-1: -Risk is uncertainty about and severity of the consequences of an activity with respect to something that humans value. Risk is the occurrences of some specified consequences of the activity and associated uncertainties. Risk is the deviation from a reference value and associated uncertainties.

Detailed explanation-2: -: possibility of loss or injury : peril. : someone or something that creates or suggests a hazard. 3. : the chance of loss or the perils to the subject matter of an insurance contract. also : the degree of probability of such loss.

Detailed explanation-3: -Risk is a consequence of uncertainty; risk can be emotional, financial, or reputational. The roles of Maximization of Value and Minimization of Losses form a continuum on which risk is anchored. One consequence of uncertainty is that actual outcomes may vary from what is expected and as such represents risk.

Detailed explanation-4: -Severity describes the highest level of damage possible when an accident occurs from a particular hazard. Damage can be: Catastrophic, Critical, Moderate, or Negligible.

Detailed explanation-5: -Risk refers to uncertainty about and severity of the events and consequences (or. outcomes) of an activity with respect to something that humans value. ( I)