Korkriskiä

Korkriskiä is a term found in Finnish risk discourse used to refer to risks that are high in severity, high in likelihood, or both, and therefore require particular attention in risk management. The word is a compound drawn from korkea (high) and riski (risk), with the suffix -ksiä functioning as a nominalization marker in Finnish. Because it is not a formally codified category in risk standards, korkriskiä is typically employed as a practical shorthand in discussions, briefings, and media, rather than as a fixed technical label.

In usage, korkriskiä covers a wide range of domains, including financial, operational, cybersecurity, environmental, and policy-related risks that could cause substantial harm if realized. Criteria for labeling a risk as korkriskiä vary by context, but common elements include significant potential impact (such as large financial losses, safety consequences, or reputational damage) and substantive uncertainty about probability or outcomes. Analysts may apply risk scoring, threshold definitions, or scenario analysis to identify korkriskiä and to set priorities for mitigation.

Mitigation often relies on strategies such as redundancy, contingency planning, diversification, hedging, or risk transfer, with korkriskiä monitored through key risk indicators and regular reviews. Examples include a single-point-of-failure in a critical supply chain, a high-impact cyber threat, or regulatory changes that could affect a large portion of an operation.

Critics note that the non-standard nature of korkriskiä can hinder comparability; when used, the term should be accompanied by explicit criteria and definitions. See also high-risk, tail risk, and black swan concepts.