The combination of the probability of an event and its negative consequences. Comment: This definition closely follows the definition of the ISO/IEC Guide 73. The word risk has two distinctive connotations: in popular usage the emphasis is usually placed on the concept of chance or possibility, such as in the risk of an accident; whereas in technical settings the emphasis is usually placed on the consequences, in terms of potential losses for some particular cause, place and period. It can be noted that people do not necessarily share the same perceptions of the significance and underlying causes of different risks. See other risk-related terms in the Terminology: Acceptable risk; Corrective disaster risk management; Disaster risk; Disaster risk management; Disaster risk reduction; Disaster risk reduction plans; Extensive risk; Intensive risk; Prospective disaster risk management; Residual risk; Risk assessment; Risk management; Risk transfer. 30 Aug 2007