What is Risk Analysis

Risk analysis means looking at potential problems and uncertainties in a decision or project. It's about determining what could go wrong, how likely it is, and how awful it could get. Experts use data and maths to figure this out. This helps people make wise choices, plan for problems, and reduce the impact of bad things happening. Risk analysis is used in many areas like finance, insurance, and project management to avoid trouble and increase the chances of success.