Difference Between Risk And Uncertainty
The main dissimilarities or difference between risk and uncertainty can be pointed out as follows:
1. Introducing
Risk: Possibility of occurrence of positive or negative impact or gaining or losing the value of something.
Uncertainty: Not defined , not known or not being sure of future events
2. What Is It
Risk : Risk is a probability of future occurrence
Uncertainty: Uncertainty is a state of doubt
3. Prediction
Risk: Future risks can be predicted
Uncertainty: Future uncertainties cannot be predicted
4. Measurement
Risk: Risk is measurable
Uncertainty: It is not measurable
5. Insurable
Risk: Yes, insurance can cover business risks
Uncertainty: No, insurance does not cover uncertainty
Also Read:
Also Read:
6. Transferable
Risk: Yes, it is transferable
Uncertainty: No, it is not transferable
7. Controllable
Risk: Yes, it can be controlled by using different risk management techniques
Uncertainty: No, there are no methods or techniques to control uncertainty.
Risk Vs Uncertainty (Comparison Chart)
I hope this post is helpful to understand the difference between risk and uncertainty and to make comparison between them.
Risk Vs Uncertainty (Comparison Chart)
Basis For Difference
|
Risk
|
Uncertainty
|
Introduction
|
Possibility of occurrence of positive or negative impact in the future
|
Unknown future events
|
It Is
|
Probability
|
State of doubt
|
Predictable
|
Yes
|
No
|
Measurable
|
Yes
|
No
|
Insurable
|
Yes
|
No
|
Transferable
|
Yes
|
No
|
Controllable
|
Yes
|
No
|
I hope this post is helpful to understand the difference between risk and uncertainty and to make comparison between them.
