The possibility of something bad happening at some time in the future; a situation that could be dangerous or have a bad result.
While that’s how we use it in day to day conversations, another definition is used in projects.
Think of the startup story again, and all the risks he didn’t foresee. What are they?
They are all events in the future that may or may not happen, but if they do, they will impact the objectives of the project.
Let’s say you’ve been offered the choice of entering one of the following two games; only one of the games, and you can play it once.
- You toss a coin; if you win, they pay you €200.
- You toss a coin; if you win, they pay you €600; if you lose, you have to pay €200.
We'll talk about it tomorrow. Meanwhile, please click on your answer below; we'll use the aggregate result to evaluate the theory: Game 1 or Game 2
Note: coins are not loaded in any of the games in this course!
Disclaimer: you’re not going to get paid in this course for real ;)