Value & Risk Dictionary

PRIMO Res Public

To understand what is happening, make sense of the publications (from different sciences and schools), interpret the frameworks and translate the myriad of languages related to public governance of value and risk, it is wise to reduce the dictionary with concepts as are starting points of our organisation and for our members and network.

It serves as a compass in diagnosis, design, and decision-making. These tools are theoretical concepts and practical aids that help to get not lost in translation. Especially the dictionary of risk is a thick one with hundreds of interpretations. Many pretend to be or want to be the standard.

Value: the importance, worth, or usefulness of something.

Issue: an important topic or problem to be or need to be discussed or debated.

Risk: a possible harm to something of value.

Strength: a quality of being strong, having mental power, force, or vigour of someone or something, which gives an advantage to others.

Weakness: an inadequate or defective quality of someone or something considered a disadvantage relative to others.

Opportunity: environmental (external) trend or development that someone or something could exploit to its advantage.

Threat: environmental (external) trend or development that could cause trouble for someone or something.