Editing Systematic risk (section)

==In projects==

Systematic risk exists in projects and is called the overall project risk bred by the combined effect of uncertainty in external environmental factors such as [[PESTLE]], [[Volatility, uncertainty, complexity and ambiguity|VUCA]], etc. It is also called contingent or unplanned risk or simply uncertainty because it is of unknown likelihood and unknown impact. In contrast, systemic risk is known as the individual project risk, caused by internal factors or attributes of the project system or culture. This is also known as inherent, planned, event or condition risk caused by known unknowns such as variability or ambiguity of impact but 100% probability of occurrence. Both systemic and systematic risks are residual risk.