DEFINITIONS

It is always the first thing to understand each other.

Do we mean the same when we talk about chances? What do people mean by the term risk? How divers are the answers to the question what risk management is? Lets try to use a common language for that, a common understanding. However, this needs to be as simple to understand and learn as possible. 

To simplify helps! These definitions are comprehensive and made for everybody in day-to-day life. They are in line with respective ISO norms and can be used generically.

Chances

WHAT ARE CHANCES?

A chance is a future that, if it happened, would do good.

Examples are: opportunities, aims, targets, strategy, innovation, vision, mission or simply all that would do good when it happened - explicitly prepared or pursued or coincidentally discovered. The proportion of this that is already in a plan is a different question. 

To pursue chances often comes along with taking risks - hand in hand - however: the chance is something I want to happen, the risk rather should not occur.

WHAT IS CHANCE MANAGEMENT?

Chance Management is to get it done that chances will do good.

Risks

WHAT ARE RISKS?

A risk is a future that, if it happened, would be painful.

Examples are: damage or loss of money, assets, health or reputation.- all that would hurt when it happened. The amount of risks that is already put into a plan is irrespective of this. 

We take risks because we pursue chances or because we live as we live and do what we do. See risks we like to take, others we don't. However, they should not occur and hurt us!

WHAT IS RISK MANAGEMENT?

Risk Management is to get it done that risks will cause as little pain as possible.

Future

WHAT IS FUTURE?

Future is the time that lies in front of us.

The future is uncertain. Many forecasts are prepared. However, they often don't realize, since the information that has gone into them was not comprehensive and systemic enough. 

All humans deal with the future, sometimes more, sometimes less. We have future joys and future worries. We plan for the future, set targets and aims. 

WHAT IS FUTURE MANAGEMENT?

Future Management is to get it done to realize aims and targets.