I can’t seem to get most explanations from the internet and people seem to use the term in numerous ways.
Update: Ok I think I get it. People conflate the hazard and risk concept together. So when people discuss risks they are actually discussing probable hazards.
The reason this confused me is because entrepreneurs will ask about what risks there are in a project. When they just use it as a shorthand meaning what could go wrong that’s out of their control.
What also makes it confusing is that risk analysis calls the hazard column a risk column, then proceeds to add columns of impact and likelihood. When the risk should be the column that is a multiplication oh the impact and likelihood wrt the hazard.
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In simplest terms. A risk is the ability of something you do to backfire in any way.
So gambling is a risk based deal. You pay money but you risk losing it, there’s a chance you lose it
Playing acrobatics without protection, means that you risk your safety, health, and possibly even life for the sake of a performance
There is this term “risk factors” which (I’m not a medic) is like, the things you might have that increases the chance that you get a specific disease
So having a family of diabetics is a risk factor for you to get it. Eating a sugary diet is also a risk factor.
They increase the risk(chance) that you get diabetes
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