There is always the risk that something you will do does not achieve the intended success. Or something you believed about the world turns out to be false.
Risks can be described on a number of dimensions:
• Impact: If the risk becomes a reality, what do you do? Is the whole plan useless, or can it be adapted? Very often, it can. How much work is it to adapt the plan? Example: Find a new customer segment for your business idea.
• Probability: How likely is the risk? Very likely? Rather unlikely? What do you think?
• Data: Why do you estimate the probability this way? What data is your estimation really based on?