CIPRNet CIP glossary

NOTE 1 An effect is a deviation from the expected — positive and/or negative.
NOTE 2 Objectives can have different aspects (such as financial, health and safety, and environmental goals) and can apply at different levels (such as strategic, organization-wide, project, product and process).
NOTE 3 Risk is often characterized by reference to potential events and consequences, or a combination of these.
NOTE 4 Risk is often expressed in terms of a combination of the conse-quences of an event (including changes in circumstances) and the associ-ated likelihood of occurrence.
NOTE 5 Uncertainty is the state, even partial, of deficiency of information related to, understanding or knowledge of, an event, its consequence, or likelihood. [©‎ ISO Guide 73:2009]