Riskfall

Riskfall is a term used in some risk-management discussions to denote a realized risk event—the moment when a potential risk crystallizes into an actual incident. In this sense a riskfall contrasts with risk exposure or risk likelihood, which describe potential states rather than events.

The term is not part of formal standards such as ISO 31000; it appears primarily in German-speaking regional practice and in informal or organizational documents. It is often used interchangeably with “risk event” or “crisis event” in those contexts, and its precise meaning can vary between organizations.

Typical use involves recording a riskfall in a risk register, analyzing its causes, assessing financial or operational impact, implementing corrective actions, and updating risk controls to prevent recurrence. It may be followed by post-incident review and lessons learned, with the aim of improving resilience and response capabilities.

Applications include project risk management, safety management, information security, and business continuity planning. A riskfall diagnosis helps allocate resources and track the effectiveness of mitigations over time, supporting accountability and informed decision-making after an incident.

Limitations include inconsistent usage, potential ambiguity with other terms, and the lack of standardized definitions across industries. When used, it should be clearly defined within an organization to avoid confusion with other concepts such as potential risk factors or risk events. See also risk management, incident, risk register, root cause analysis.