Difference between risk and uncertainty

BASIS FOR COMPARISON

RISK

UNCERTAINTY

Meaning

The probability of winning or losing something worthy is known as risk.

Uncertainty implies a situation where the future events are not known.

Ascertainment

It can be measured

It cannot be measured.

Outcome

Chances of outcomes are known.

The outcome is unknown.

Control

Controllable

Uncontrollable

Minimization

Yes

No

Probabilities

Assigned

Not assigned

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