The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur.
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Example
If there is a 25% chance of running over schedule, costing you a $100 out of your own pocket, that might be a risk you are willing to take. But if you have a 5% chance of running overschedule, knowing that there is a $10,000 penalty, you might be less willing to take that risk.
Order number
3
Part of speech
noun
No relations.
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