What is defined as the effect of uncertainty on objectives?

The term "Risk" is formally defined as "the effect of uncertainty on objectives." This definition is adopted by The Open Group in the TOGAF® Standard directly from the international standard for risk management, ISO 31000:2018. It signifies that any uncertainty, whether its potential outcome is positive or negative, can impact the achievement of an organization's goals. In the context of enterprise architecture, this involves identifying and managing uncertainties that could affect the objectives of the architecture work or the enterprise itself.

A. Vulnerability: A vulnerability is a weakness or flaw in an asset or control that can be exploited by one or more threats.
C. Continuity: Continuity, often in the context of Business Continuity, is the capability to maintain essential functions during and after a disaster has occurred.
D. Threat: A threat is a potential cause of an unwanted incident, which may result in harm to a system or organization.

1. The TOGAF® Standard, 10th Edition, Part I, Chapter 3: Definitions, Section 3.73. The standard explicitly defines Risk as: "The effect of uncertainty on objectives. Note: This definition is taken from ISO 31000:2018."

2. ISO 31000:2018, Risk management — Guidelines, Clause 3.1. This international standard provides the foundational definition of risk as the "effect of uncertainty on objectives."

3. The Open Group, O-RA-21, Open FAIR™ Risk Analysis Body of Knowledge, Version 2.0.1, Section 1.2. While focusing on FAIR, it aligns with the standard ISO 31000 definition of risk as a foundational concept.