This course will provide an overview of the concepts of risk and uncertainty, and how to effectively manage them. It will cover the fundamentals of risk management, including identifying, assessing, and mitigating risks. It will also explore the various types of uncertainty, such as political
Uncertainty or incertitude refers to situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown, and is particularly relevant for decision-making. Uncertainty arises in partially observable or stochastic or complex or dynamic environments, as well as due to ignorance, indolence, or both. It arises in any number of fields, including insurance, philosophy, physics, statistics, economics, entrepreneurship, finance, medicine, psychology, sociology, engineering, metrology, meteorology, ecology and information science.