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Many alternative definitions of risk have been suggested in the literature. Among these are the following:

1 (a) “Effect of uncertainty on objectives” (ISO 31000). This definition is different from the one used in this book. Events are not mentioned in the definition and it also encompasses both positive and negative consequences.

2 (b) “The possibility that human actions or events lead to consequences that harm aspects of things that human beings value” (Klinke and Renn 2002).

3 (c) “Situation or event where something of human value (including humans themselves) has been put at stake and where the outcome is uncertain” (Rosa 1998).

4 (d) “Uncertainty about and severity of the consequences (or outcomes) of an activity with respect to something that humans value” (Aven and Renn 2009).

5 (e) “The probability that a particular adverse event occurs during a stated period of time, or results from a particular challenge” (Royal Society 1992 , p. 22).

6 (f) “Risk refers to the uncertainty that surrounds future events and outcomes. It is the expression of the likelihood and impact of an event with the potential to influence the achievement of an organization's objectives” (Treasury Board 2001).

One aspect that distinguishes several of these definitions from our definition is the use of uncertainty instead of likelihood or probability.

Thorough discussions of the various definitions and aspects of risk are given, for example, by Lupton (1999) and Johansen (2010). We do not go into further details on this here, just repeat our cautionary comment that risk is not always defined as in this book.