rizikos

Rizikos is a Lithuanian term that refers to risks. In Lithuanian, rizikos is used to denote the plural or collective concept of uncertain events that could produce harm, loss, or unfavorable outcomes. Beyond language, the word appears in regulatory, business, and academic texts to discuss the potential for negative results in various activities.

In general usage, risk is defined as the probability of an event occurring combined with the consequence of that event. Risk analysis considers both the likelihood of events and their potential impact, helping organizations understand which uncertainties matter most and where to focus attention and resources. Risk management aims to reduce unwanted outcomes rather than eliminate all uncertainty, balancing potential costs and benefits.

Common risk categories include financial risk (volatility, interest rates, credit risk), operational risk (process failures, supply chain disruptions), strategic risk (competitive shifts, changing markets), compliance and legal risk (regulatory changes, penalties), and reputational risk (public perception and trust). Environmental, health and safety, cyber, and project-specific risks are also routinely addressed within broader risk frameworks.

Frameworks and practices for managing rizikos include formal standards such as ISO 31000 and COSO ERM, which outline principles, a governance structure, and processes for risk identification, analysis, evaluation, treatment, monitoring, and communication. Tools like risk registers, quantitative models, risk matrices, and qualitative assessments support decision-making. Central concepts include risk appetite, risk tolerance, and residual risk after mitigation.

In many sectors, rizikos assessment is integral to planning, governance, and day-to-day operations, guiding strategies and safeguards to protect people, assets, and objectives.