Chance is defined as the inability to predict, understand, or control events. Looking at it from the probability or possibility viewpoint, any happening has a 50% chance of success or failure.
The synonyms of risk say it all: venture, peril, jeopardy. To take a risk is to expose you to the possibility of failure.
You can, however, make chance and risk work for you and lead you to success. For instance, if seen as an opportunity, chance can change into good luck which has been defined as 1% inspiration and 99% perspiration.
Risk can become a calculated risk meaning that if you risk going out on a limb, then you have calculated your weight and the number of pounds that limb will hold.
Being smart about taking chances and calculated risks can help you lead through ambiguity and chaos to success. You will avoid sending the red tip of that needle to the failure side of your initiatives.