Risk

Risk cannot be separated from benefits.  It is only because we enjoy benefits that we are concerned with risk. 

We undertake projects in the hope of reaping future benefits from the project. 

In order to understand the risks we face, first we identify the benefits we want to protect. 

There are two types of benefits.  First is the future benefit that we hope to acquire (e.g., a job promotion).  The second is the current benefit that we are enjoying (e.g., a healthy life).

Once we’ve identified the benefits, then we can consider the risks we are concerned with.  For example, the risk that we do not get the promotion.  Or, the risk that our health suffers.