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GCSE Citizenship Studies · key term
The possibility that something will go wrong, causing harm, loss or failure to achieve an intended outcome.
Used by AQA
Paper 1
Revise: Budgeting and Risk ManagementA risk is the possibility of something going wrong and causing harm, loss or failure to achieve an intended outcome. A budget relies on forecasts, so it cannot guarantee that income, costs or demand will match expectations.
Connect a risk to a funding decision: explain what could happen, its effect on costs or services, and how government could respond.
When evaluating an allocation, weigh benefits against costs, risks and the consequences for people who receive less funding.
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