Fundamental risk concepts which are necessary for risk professionals in any field.

There are various aspects of classifying risk and most importantly there is no single clear cut classification. The following lections will briefly outline the underlying concepts behind the most important general distinctions of risk types.

For many it might be intuitively apparent why risk management is beneficial to individuals and groups alike. Others might believe risk is overvalued and should be ignored. However, there are scientific reasons why risk management can add value which will be explained in the following lections.