CONSEQUENCE

Risk Management and Decision Making Glossary

Risk Management and Decision Making — Consequence

 

 

 

 

 

 

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Information on Consequences (Risk Consequences)

Consequence (risk consequence) is the outcome of an event or situation expressed qualitatively or quantitatively, being a loss, injury, disadvantage or gain (AS/NZS 4360). A Risk Consequence is the impact on desired outcomes from the risk event occurring. Essentially, the concern focuses on loss, since although windfalls may also result they do not create a liability or cost. It is these consequences that creat the need for management attention.


Other topics in our resources on Risk Management and Decision Making related to Consequence include: 
 
  • risk consequence
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