There are several types of risk that can affect a single investment project. These include project-specific risks, competitive risks, industry risks, market risks, and international risks if investing abroad. Risk refers to uncertainty about outcomes and can be measured using metrics like range, standard deviation, and coefficient of variation. Risk can be viewed from the perspective of a standalone project, the firm as a whole, or a diversified investor. Entrepreneurs also face various types of risks beyond just financial risks, such as career risks, family risks, and psychic risks, and their tolerance of risk depends on their motivations between profit-seeking and activity-seeking.