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  • Risk Perception and Tolerance


    Introduction

    Risk is a subjective concept, which is perceived differently by stakeholders based on their education, experience and other unique factors including the culture of organisations and societies to which they belong. A further consideration is the various levels of risk tolerance of stakeholders, and how these tolerances will be balanced when managing projects or day-to-day operations.

    Organisations should consider enshrining their position in a risk tolerance or risk position statement.

    Key concepts

    Some important concepts when considering risk perception and tolerance are:

    Sources:

    The information on this page was drawn primarily from the following sources:

     

    Edited by Nadine Cranenburgh


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