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@@ -11,6 +11,24 @@ title: Risk
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# Risk
%%
## TALK
This note is for the concept of risk
as understood by laymen and mathematicians.
## TODO
1. Relocate profession specific content to [[risk-management]].
2. If [[#In Cost Estimation]]'s content needs to remain,
and it isn't suited for [[actuarial-science-for-construction-estimating]],
another cross-topic [[risk-management-for-construction-estimation]] will be necessary.
I suspect that with some edits it will be most appropriate for [[actuarial-science]].
%%
Risk, in common parlance, is the chance that something "bad" will happen.
As such, it is generally understood as a binary, win/loss relationship.