The University of SydneyPage 15A few definitions–Risk analysis–systematic process to understand the nature of risk and to deduce the level of risk–Risk criteria–terms of reference by which the significance of risk is assessed–Risk evaluation–process of comparing the level of risk against risk criteria–Risk assessment–the overall process of risk identification and risk analysis and risk evaluation–Risk management–the culture, processes and structures that are directed towards realising potential opportunities whilst managing adverse effects–Stakeholders–those people and organisations who may affect, be affected by, or perceive themselves to be affected by a decision, activity or risk