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A number of "standard" definitions and uses of risk and opportunity terminology can confuse even experienced R&O professionals. The attached PPTX of Definitions are recommendations to hopefully clarify some of that confusion. The rationale for these recommendations is based on the premise that there is no need for the concept of a "positive Risk". A scenario identified as leading to a positive / wanted but / uncertain outcome is best considered as a pursuit of an Opportunity not managing a " positive Risk". What do you think? Everyday Risk & Opportunity Definitions.pptx
untilA new edition of IEC 31010 Risk Management Risk Assessment Techniques was recently released and will be published as an Australian standard later in the year. This presentation will explain the philosophy the team followed in revising the standard and will explain the differences between the latest release and the 2009 version, and explaining the ‘why’ behind it. Risk is defined in ISO 31000 Risk Management as the effect of uncertainty on objectives - but what do we mean by uncertainty and what implications does this have for the practicalities of assessing risk? Delivered by Professor Jean Cross, this presentation will draw attention to some of the techniques introduced in this edition that were not in the last.