Risk and uncertainty are the two most often used concepts in the literature covering RM field. Although these terms are closely related, a number of authors differentiate between the (Samson, 2009). Also practitioners working with risk have difficulty in defining and distinguishing between these two. Often definitions of risk or uncertainty are tailored for the
use of a particular project. To make it more systematized, a literature research was done. The findings of this search resulted in a number of definitions of risk and uncertainties