Therefore, the development of probability enabled the start of the process of quantifying risk. However, it's noteworthy that probability and risk are different concepts to most subjects. While the probability it's mathematically defined as the possibility or chance of a particular event occurs, and is represented by a number between 0 and 1 (Gelman; Nolan, 2004, Triola, 2005), the risk is associated with the probability of occurrence of an undesired event and its severity and cannot be represented by only one number
