Risk is exposure to uncertainty. In other words, risk is the chance of loss or an adverse outcome.

Risk exposure is the extent to which environmental or market risks result in actual risk that a business or investor faces.
Risk management is the process by which an organization or individual determines the level of risk to be tolerated, measures the actual level of risk to be incurred, and ensures that this level is consistent with the predetermined risk level, with the goal of:
Maximizing the value of the company or portfolio, or maximizing overall satisfaction or benefit for an individual.
The goal of risk management is not to minimize or completely eliminate risk.