What is the difference between risk and issue?

A Risk is a possible event impacting objectives negatively or positively. An issue however is an event taking place and causing uncertain impact

Risk: an event that can have either a positive OR negative impact to you quality, time, scope. For example, your product can have a low risk of early regulatory approval which is a good thing but has an impact to time, scope, etc. or runs a high risk of late regulatory approval which has other impacts such as not being first to markets, etc.

 

an issue is a risk that has been realized. It has already come to fruition and you should have a mitigation plan I place.