What is a risk? Something is at stake. Something of value may lose some or all of its value. Risks have targets and causes. The target is the thing of value, and the cause is what will reduce the value of the thing. Basic.
Value: Real or physical. Perceived or structural. Imagined or mental.
So then what is the value based on? I will want to assume that it is objectively valuable. But in any case, even if not, even if the value is solely in the perception or the mind of the perceiver, it will be something worth protecting from a risk.
So ther eis protecting from risk, in planning to avoid the causes of risk, in eliminating the causes of risk, and in the active recovering from the risk.
Without risk though there can be nothing novel in your life. Well, I suspect you could define risk away, or alter your own metaphysics to see risks as opportunities instead of potential losses. But if I don't do that, I'll need to deal with being in what are risky situations and interactions. (noun / verb)
So there is value in encountering risks. There is value also in pursuing risky situations and interactions. There is value even in looking at the status quo as risky - either via opportunity cost or via dogmaticism. Embracing change is important.