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risk evaluation — The process of understanding the net effect of the identified threats and opportunities on an activity when aggregated together.

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Prince2 glossary

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accept (risk response)
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acceptance
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acceptance criteria
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activity
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agile and agile methods
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approval
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approver
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asset
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assumption
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assurance
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authority
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authorization
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avoid (risk response)
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backlog
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baseline
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baseline management product
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benefit
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benefits tolerance
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benefits management approach
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burn chart
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business case
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centre of excellence
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change authority
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change budget
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change control
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change control approach
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checkpoint
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checkpoint report
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closure recommendation
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communication management approach
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concession
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configuration item
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configuration management
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configuration item record
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configuration management system
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constraints
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contingent plan
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corporate, programme management or customer standards
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corrective action
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cost tolerance
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customer
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customer's quality expectations
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daily log
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deliverable
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delivery approach
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delivery step
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dependency (plan)
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dis-benefit
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