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TeachMeFinance.com - explain Risk Risk The term 'Risk' as it applies to the area of nuclear science can be defined as ' The combined answer to three questions that consider (1) what can go wrong, (2) how likely it is, and (3) what its consequences might be. These three questions allow the NRC to understand likely outcomes, sensitivities, areas of importance, system interactions, and areas of uncertainty, which can be used to identify risk-significant scenarios. For additional detail, see Risk Assessment in Regulation and the Fact Sheet on Nuclear Reactor Risk. '. The term 'Risk' as it applies to the area of reclamation can be defined as ' The relationship between the consequences resulting from an adverse event and its probability of occurrence. The potential for losing credibility, failing to solve a problem, or getting hurt. The ability to describe potential outcomes using historic probability. The likelihood or chance of an unacceptable event occurring'. The term 'Risk' as it applies to the area of hazardous materials can be defined as 'The probability that something will cause injury or harm'. Previous 5 Terms: Ripple ripple marks Riprap rips risible Next 5 Terms: Risk Adjustment risk analysis Risk assessment Risk assessment Risk communication About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.