Risk is composed of two parts: the probability of something going wrong and the subsequent consequences if it does. Although risks can never be predicted with certainty, they can be identified and analyzed to reduce the possibly catastrophic—and sometimes deadly—consequences of not taking a risk into account. The process of identifying and analyzing risks, called risk analysis or risk assessment, can be applied to all aspects of life, from start-ups and security issues to severe storms and public health.
* This article was originally published here
