The term “risk” often carries a negative connotation and is frequently only associated with danger, loss or failure.

What is risk? Risk is the effect of uncertainty on your objectives. It is the possibility that something unfavourable might occur, but it is also possible that something favourable could occur.

Risk is therefore a double-edged sword that can lead to either success or failure. Every innovation, groundbreaking invention or significant improvement came with the possibility of failure. Without embracing risk, those successes would not have been achieved.

Thinking about what could go wrong provides an opportunity to turn a negative into a positive – by preparing for and preventing negative outcomes, you protect what is most important.

So instead of seeing risk as something to silently swear about, it’s more powerful and productive to see it as a necessary component to achieving your goals. Embracing risk means accepting that failure is a possibility, but so is success.

Changing how you view and manage risk drives innovation and unlocks new opportunities to grow, learn, and, ultimately, achieve more than you ever thought possible. We’re here to help you see what risk truly is: a pathway to potential and progress.

If you have any questions or need support in relating risks to your regular tasks and activities, please contact the Internal Audit and Risk Management team at InternalAuditServices@macewan.ca.

From Internal Audit and Risk Management