possibility of suffering harm or loss the possibility of suffering damage or loss in the face of uncertainty about the outcome of actions, future events, or circumstances. Organizations are exposed to various types of risk, including damage to property, injury to personnel, financial loss, and legal liability. These may affect profitability, hinder the achievement of objectives, or lead to business interruption or failure. Risk may be deemed high or low, depending on the probability of an adverse outcome. Risks that can be quantified on the basis of past experience are insurable and those that cannot be calculated are uninsurable.
potential for negative outcome a condition in which there exists a quantifiable dispersion in the possible outcomes from any activity