Uncertainty and Risks: Interconnection, Interdependence and Imbalances in Decision-Making

Abstract

The analysis of scientific sources carried out in the article showed that the terms “uncertainty” and related definitions of “risk” and “decision-making” are interdisciplinary, as evidenced by the statistics of the use of the terms “uncertainty”, “risk”, “decision-making”. It is proven that the relationship between risk and uncertainty is determined by the way they influence decision-making. The classification has been expanded and systematized, and the types and manifestations of uncertainty have been characterized. It is noted that each of these species has its own properties and may require specific approaches to their management.It is emphasized that the study of risks can be carried out in various fields and contexts where it is necessary to predict, evaluate and manage possible negative consequences, in connection with which we have singled out scientific fields of study and areas of risk analysis in them. In addition to well-known approaches to risk and uncertainty in the context of decision-making as threats and opportunities for development, we proposeto consider the process of effective risk management as an effort to find a balance between threats and opportunities, which requires diagnosis of identified imbalances. It is emphasized that effective risk manage-ment involves creating a balance between minimizing possible negative consequences and using opportunities to achieve a positive result. Balanced risk management allows you to min-imize the negative consequences of risks, and at the same time effectively use opportunities to achieve positive results and development.Imbalances that occur between threats and opportunities determine the difference in weight, impact or importance between factors that can have a negative or positive impact on an organization, project, activity or any other field of activity. They occur when the benefits or risks associated with a particular situation are unevenly distributed or not properly accounted for. An analysis of various types of imbalances between threats and opportunities in risk con-ditions is carried out, whichcan help to better understand a wide range of factors that can influence strategic decision-making in organizations and other spheres of activity.