There is a need to develop a wholistic risk theory as without it no progress is possible in the applied spheres of organizational activity. The authors discuss multi-aspect nature of risk; they look into the classical risk model pout forward yet in the 17th and 18th centuries. General risk formula serves as a basis for the wholistic risk theory. This formula offers such approach to risk classification which may be applied to any risk situations and it offers such classification of risks which may help to build a complete risks taxonomy.