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Risk Examples

Posted: Thu 29 Nov 2012 2:55 pm
by kwalford
I have my Prince2 Practitioner exam coming up and I want to ensure I have understood what is a risk (threat or opportunity) in a scenario. I know that the syntax is Cause Event Effect but could you please provide examples? I want to make sure I am not confusing the risk (uncertainty) for an impact, and the converse.

Thank you.

Re: Risk Examples

Posted: Tue 04 Dec 2012 3:35 pm
by Mohamed.Benmerikhi
Hi there,

Risk and uncertainty can easily be confused used interchangeably. Quite wrongly though.

Here's what I think:
  • Risk relates to a situation where an event is known, but the probability of its occurence is unknown.
  • Uncertainty is when both events and their associated probabilities are unknown.
Good luck in your exam.
Mohamed Benmerikhi

Re: Risk Examples

Posted: Fri 07 Dec 2012 5:21 pm
by kwalford
Thank you :)

That's interesting your reply. Our Teacher in the study course kept saying to us, 'if you think it is a risk, then show me the uncertainty'.