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Define the term risk in risk management.
Risk:
It is the probability or chance of something which may or may not arise; this is something that can be quantified by using standard deviation.
Uncertainty:
It is something that cannot be predicted along with statistical confidence, normally because of insufficient information.
Explain the relationship between organisational competences and decisions relating to the contracting out of activities. Organisational competences A competence is an mehod
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