Glossary
Understanding ISO 31000 – Risk management – Guidelines

Definitions are taken from ISO 31000 – Risk management — Guidelines.

Risk

The effect of uncertainty on objectives.

Risk management

Coordinated activities designed to manage and steer an organization with respect to risk.

Source of risk

Any element which, alone or in combination with others, is likely to give rise to a risk.

Event

Occurrence or change of a particular set of circumstances.

Consequences

Effect of an event affecting objectives.

Verisimilitude

Possibility of something happening.

Means of control

Action that maintains and/or modifies...