Riskens

Riskens are discrete risk events that can affect the achievement of objectives within a risk management framework. The term is not widely standardized and is more often replaced by “risk events” or simply “risks” in formal literature, though riskens appear in some tools and discussions that model individual occurrences separately.

Each risken is characterized by attributes such as probability, potential impact, a triggering condition, an expected time horizon, and detectability. They can be categorized by source (operational, financial, strategic, safety), velocity (how quickly they materialize), and controllability (whether they can be mitigated or avoided). Practitioners often represent riskens in risk registers or matrices to support prioritization and response planning.

Identification and assessment typically involve systematic workshops, checklists, scenario analysis, and data-driven models. Qualitative scales (low to high) or quantitative estimates (probabilities and monetary impact) may be used, and results are combined to prioritize riskens by expected value or risk rating. Monitoring relies on indicators and triggers that signal when a risken is approaching or has materialized.

Management of riskens includes assigning ownership, selecting response strategies (avoidance, reduction, transfer, acceptance), and implementing controls or contingencies. Ongoing tracking and reporting feed into governance processes and enterprise risk management, enabling alignment with objectives and timely adjustment of strategies.

Examples of riskens include market downturns, supply chain disruption, cybersecurity incidents, regulatory changes, and natural disasters. Etymologically, risken is a coinage built from risk, and usage varies; many frameworks prefer standard terms like risks or risk events for clarity. See also risk, risk assessment, risk management, and risk register.