Consequences (risk consequences)

Consequence (C) is the outcome of an event or situation expressed qualitatively or quantitatively, being a loss, injury, disadvantage or gain (AS/NZS: 4360). Risk Consequences are the impacts on desired outcomes from the risk event occurring. Essentially, the concern focuses on loss, since although windfalls may also result they do not create a liability or cost. It is these consequences that create the need for management attention.