MANAGEMENT

Detailed explanation-1: -Risk Determination provides a quantitative risk value representing the systems exposure to a threat exploiting a particular vulnerability after current controls have been considered. This quantitative value is in the form of a Risk Score. A risk score basically follows the following formula: RISK= IMPACT x LIKELIHOOD.

Detailed explanation-2: -Risk = Likelihood x Severity The more likely it is that harm will happen, and the more severe the harm, the higher the risk. And before you can control risk, you need to know what level of risk you are facing. To calculate risk, you simply need to multiply the likelihood by the severity.

Detailed explanation-3: -Risk is measured by evaluating the following criteria: • Likelihood (Probability) – What is the probability that something bad could occur? Impact (Consequence) – If something bad were to occur, what would be the consequences to the organization?

Detailed explanation-4: -For businesses, technology risk is governed by one equation: Risk = Likelihood x Impact. This means that the total amount of risk exposure is the probability of an unfortunate event occurring, multiplied by the potential impact or damage incurred by the event.

Detailed explanation-5: -The impact is an estimate of the harm that could be caused by an event. For example, a cyberbreach could have a catastrophic impact. Likelihood. Likelihood is how probable it is that an event will occur.