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What is Risk and Risk management?

-danger of losing
-possibility of dying when you go outside
-theft
-been kidnapped
-losing money
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Danger
Hazard
Uncertainty

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Danger
Hazard
Uncertainty
Disadvantages

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Danger
Hazard
Uncertainty

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Profit
Loss
Competition
Gain
Worth
Commodities
Opportunity

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danger

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loss
fear
danger

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possibility
chance
potential loss/gain

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How to prevent an unfavourable outcome from happening.

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How to prevent an unfavourable outcome from happening.

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fear
competition
loss
profits
breakeven
chances
opportunity
gain
share price
investors
board

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Thee Legacy & Dj Maphorisa -Thando ft Mlindo The Vocalist (Mas Musiq Remix) || ZAMUSIC.ORG

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losing it all
crushed hope
hindrances
negative
opportunity cost
not the best outcome

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Potential losses
Potential wins
Big risk, big wins, big losses

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Reputation of the business
Damage
Loss

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harm
threats
loss
negativity

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situation involving loss, harm or exposure to danger

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Threat and Unforeseen Events

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Unforeseen Events and Threat

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Possibility of things going wrong.
Negative uncontrollable circumstances

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problems
Combat
Solution

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possibility
unsafe

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Uncertainty

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actual outcomes being lower than expected outcomes/returns
controls
processes to mitigate
potential loss

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Opportunity Cost

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Uncertainty always poses a great amount of risk as you are never assured of the outcome

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Possibility of something going wrong

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Uncertainty

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Undesirable

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-Danger
-Potential loss
-Threat
-Uncertainty
-Actual outcome is not the same as expected outcome

RISK MANAGEMENT
-Prevention of risk
-Elimination of risk
-Minimising risk

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Risk is the probability that things will be different from the expected outcome

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potential loss
potential threat
unforeseen damage
negative outcome
failing and fear
consequences
a gamble
negligence
trouble
management

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Danger
Problems
A concern
Planning
Control
Understanding

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fear

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bad
consequences
threat
fears
business fall
loss
damage
uncertainty
hazards
undesired

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Red flags

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Potential threat

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Dangerous

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Danger
Something could go wrong
Negative impact
Potential loss
Regret
Return
Analysis
Choice
Accounting for the risk
Pressure
Risk management

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Danger
Something could go wrong
Negative impact
Potential loss
Regret
Return
Analysis
Choice
Accounting for the risk
Logic

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Loss
Mismanagement of Organization

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uncertainty
management of uncerntainty
potential threat

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Waste
Loss
Threat
Business
Opportunity
Investment
Damage

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Effect
Uncertainty
Objectives
Mitigate
Report
Analyse
Evaluate
Monitor

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Dangerous
Business Risk
Finances
Threat
Bad
Opportunity
Loss
Gain
Chance
Fear

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danger
bad out come
threat
bad decisions

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Potentially dangerous
Taking a leap of faith
Uncertainty
Tentative

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*possibility of unwanted outcomes
*danger

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doubting your thoughts

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uncertainty of an event to happen or not

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Discomfort
Danger
Outcome
Threat

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threat
uncertainty
likelihood
possibility

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Opportunities which has to be taken advantage of

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danger,injury,loss

Risk management
control,fix,

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Risk: a potential threat to a planned event, cannot be avoided.
Risk management: finding ways to reduce the effects of the risk before it happens or after it has happened.

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Threat
negative
external
unavoidable

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Risk management refers to what measures you put in front to minimise risks around you

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Risk is a probability that something might happen in your favour or not

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Uncertainty

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Threat
Speculative risk
Calculated risk
Danger

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EXPOSURE TO DANGER
HARM
THREAT
UNCERTAINTY

RISK MANAGEMENT

TO IDENTIFY SOMETHING TO AVOID THE IMPACT IT WILL HAVE

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Threat
Danger
Failure
Something going wrong

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pro's and con's
intimidating
fearful
plans and strategies to deal with risk
continuous adjustment of risk environment

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RISK MANAGEMRNT- ARE MEASURES TAKEN TO MANAGE RISK,FORCASTING AND AVOID/REDUCE NEGATIVE IMPACTS.
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Risk - any uplanned event that results in a great loss.
Risk Management - Are measures that are taken in order to make sure certain event does not occur in the near future.

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Uncertainty
Threat
win or lose

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DANGER
UNCERTAINITY
LOSS
FAILURE
HARM

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Jeopardy
Being exposed to danger
Fear
Threat
Death
Bad Luck

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Jeopardy
Being exposed to danger
Fear
Threat
Death
Bad Luck

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danger

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Control
ERM
ISO 31000
MITIGATE
PROACTIVITY

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Gambling
what could go wrong
win/lose situation
uncertain
and risk management is trying to control risk

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Uncertainity & potential loss.
Controlling or limiting the potential loss as much as possoble.

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risk is something that happens  suddenly and disrupts the plans you have made or causes certain things to not happen as planned

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unplanned events that results in a great loss.
Death.
load shedding.
theft.
fraud.

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ISO 31000 definition of risk
Uncertainty
Objectives
Financial impact

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Risk is something that is in danger or harmful doing
Risk management is measures that can be implemented to minimize the probability of risk to occur.

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Risk refers to future uncertainty about deviation from expected earnings or expected income.
Risk management the ability to monitor and control risks.

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Fear.

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Loss
Control
Identify
Mitigate
Risk management is control panel to reduce risk exposure

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uncertainty
loss
gain
investment
business

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A situation that involves exposure to danger.
Risk Management can involve the risk that managers put the business at