Risk is defined in financial terms as the chance that an outcome or investments actual will differ from an expected outcome or return (Chen, 2022). Uncertainty as something that can be quantified using random variables; that you can list the possible outcome and assign probabilities to each of those outcomes ( Froeb et al., 2018). Uncertainty can also refer to unsure future outcomes. Risk can be a chance that can either result in a gain or a loss.

An example I can think of is the purchase of a big costly product that can in turn if used properly can create more production for our dental office. Recently our office purchased a digital impression scanner for about $56k-71k. This was a costly product. If used correctly the scanner can pay itself off and then start to produce revenue. This was a risk our owner took when purchasing this product. All the staff was trained on how to utilize the technology to educate patients, which in turn will help them understand treatment needs and hopefully schedule treatment. What are your thoughts?