Meenakshi ManochaFunctional Manager| CISCO Systems IncSan Jose, Ca, United States
I am working in the consulting industry and as I see Risk is which can be anticipated and Uncertainty cannot be anticipated in advance. So is it the case that Uncertainty is same as unknown risks? Please help me understand the difference. Saving Changes...
Carlos TessoreDr.| RManagementMontevideo, Montevideo, Uruguay
Uncertainty is omnipresent, it is everywhere, is not possible not to have uncertainty, we live in a VUCA world.
Not all uncertainty are risks for organizations, risks are uncertainty that matter because it can affect the probability of achieving our objectives. Saving Changes...
Anton OosthuizenSenior Business Analyst / Project Manager| Self EmployedPretoria, Gauteng, South Africa
When applying uncertainty to risk it relates to your ability to predict the impact risk will have. This means that your ability to manage risk effectively decreases. The less you know about a given situation, the bigger the risk. If for instance, you have a high level of uncertainty in you project schedule the risk of not meeting milestone will increase. So while risk and uncertainty is not the same thing, they are family. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
I do believe we can and, in fact, do manage uncertainty.
When you validate assumptions, you reduce the uncertainty associated with each assumption.
Also, when your risk mitigation plan changes the risk likelihood.you are also managing uncertainty. Saving Changes...
Mohamad El-RefaiProjects Engineer| Aabar PropertiesAbu Dhabi, United Arab Emirates
Risks are uncertain events/conditions that might occur or might not.
You can identify Risks by having background information about a certain task/activity/condition, and anticipate its outcome by giving a probability of having a positive or negative impact.
Uncertainity, you do not have any information to anticipate any event. Unknown risks, you have the information but you have not highlighted/listed it as a ris. Saving Changes...
