Risk is uncertainty (see this introductory article on risk management).
The unknown, because it is unknown, seems uncertain to us.
From this we inadvertently conclude that the unknown is risk.
But not everything that is unknown is uncertain.
Therefore, not everything that is unknown is a risk.
For example, we don’t know the exact distance between the top of the Marquês de Pombal statue in Lisbon and the top of the Clérigos Tower in Porto.
But that doesn’t make the distance uncertain. It’s actually a definite quantity and relatively simple to determine, once you’ve established a criterion and have a very long measuring tape.
The same goes for almost all amounts of work on a construction site – sometimes they may not be known, but they are not uncertain, so they are not a risk.
And treating this lack of knowledge as if it was a risk is often counterproductive. We close contracts and create tensions that will have an impact on the project’s performance when, in reality, it’s just a matter of quantifying something that, for a stable project, is certain and independent of the parties involved.
Not knowing something doesn’t make it uncertain or a risk. We need to keep this idea in mind during project development, particularly when it comes to developing contracting and risk management strategies.
And, of course, we mustn’t forget that it’s essential to Saber. Fazer. Acontecer.
