RISK CONSEQUENCE
Risk Management and Decision Making Glossary
Risk Management and Decision Making — Risk Consequence
Information on Risk 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 Risk Consequence include:
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