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02 Impact of risk on organizations > Attachment of risks - Pg. 22

22 Introduction to Risk Management Throughout this book, the term `impact' is used to indicate the size of the event that has occurred or might occur. This will be a measure of the risk at the current level. The term `consequences' is used in this book to indicate the range of impacts that a particular event could have. This use of terminology is consistent with the use of impact in business continuity planning evaluations. Injury to key player A sports club will wish to reduce the chances of a key player being absent through injury. However, key players do get injured and the club will need to consider the impact of such an event in advance of it happening. If the injury is serious, the player may be absent for a significant length of time. There is likely to be a substantial impact, which will be most obvious on the pitch where the success of the team is likely to be reduced. However, other consequences may also result and these could include the loss of revenue from the sale of shirts and other merchandise with that player's name and number. Arrangements to reduce the potential for loss of income should also be considered. Impact of hazard risks