Citations MUST be in Bluebook format using footnotes. Short form citations are acceptable as long as the first citation is in full.
Week’s assigned reading introduced basic risk concepts and began with the fundamental question: what is risk? Carl Pritchard writes that “[a]lthough the terms risk and uncertainty are often used interchangeably, they are not the same.” Weber, however, in the assigned article, states that “the oft-echoed distinction between uncertainty and risk ceases to demarcate the frontier of risk management.” In your thread, provide a definition of risk and discuss the difference between risk and uncertainty. Then, discuss how risk managers use the basic risk concepts discussed in this week’s assigned reading to identify and categorize risk.
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