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Calculated risk

Definition: A possibility of failure, the degree of which has been estimated and taken into account before a venture is undertaken.

* All five elements would be in.

1. Estimation (= calculation) done by a stakeholder or commissioned to be done by the stakeholders [No chaos] HALF. 50 : 50.

Sure known.

Quote: "If you look for the bad in people expecting to find it, you surely will". - Abraham Lincoln.

* Can be secured.

2. Capability or capacity of stakeholder(s) to cope with the outcome of decision would be assumed possessed [No conflict] SAFE.

Guess none.

Quote: "The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom". - Isaac Asimov.

* Can be retained.

3. Projected/foreseen outcome or fallout are specific and identifiable and also measurable and/or assessable [No confusion]. DARE.


Quote: "Greatness is not found in possessions, power,position, or prestige. It is discovered in goodness, humility, service, and character". - Author Unknown.

* Can be assigned.

4. Opportunity cost involved have been determined as worth accepting the danger inherent in intended action [No commotion] FAIR.


Quote: "Concern should drive us into action, not into a depression". - Karen Horney.

* Can be insured.

5. Decision-making ends in the choice to do or not to do, damning fear of that 'unknown' [No confrontation]. FULL. 100 / 100.


Quote: "There's no luck in business. There's only drive, determination, and more drive". - Sophie Kinsella.

* Can be managed.

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