In Contract Law

In contract law, are risks that are produced by a non-human source and are beyond human

Human

Humans are the only living species in the Homo genus...

 control. They are unexpected but happen regularly enough in a general population to be broadly predictable, and may be the subject of casualty insurance

Casualty insurance

Casualty insurance, often equated to liability insurance, is used to describe an area of insurance not directly concerned with life insurance, health insurance, or property insurance. It is mainly used to describe the liability coverage of an individual or organization's for negligent acts or...

.
Good examples of external risks are natural disasters such as earthquakes and volcanoes.

In Project Management

In project management; Risks that are external to the project and the project manager cannot control.
Good examples of external risks are changes in government legislation

Legislation

Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...

, changes in strategy

Strategy

Strategy, a word of military origin, refers to a plan of action designed to achieve a particular goal. In military usage strategy is distinct from tactics, which are concerned with the conduct of an engagement, while strategy is concerned with how different engagements are linked...

 from senior managers, and the economy

Economy

An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area...

.

See also

• Force majeure
  Force majeure
  Force majeure or vis major "superior force", also known as cas fortuit or casus fortuitus "chance occurrence, unavoidable accident", is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of...
  
  
• Act of God
  Act of God
  Act of God is a legal term for events outside of human control, such as sudden floods or other natural disasters, for which no one can be held responsible.- Contract law :...
  
  
• Mutual assent
• Contract law
• Impossibility
  Impossibility
  In contract law, impossibility is an excuse for the nonperformance of duties under a contract, based on a change in circumstances , the nonoccurrence of which was an underlying assumption of the contract, that makes performance of the contract literally impossible...