Thinking About Likelihood and Impact
Transcript
There are two items that are of special importance in a risk assessment. You will often hear us discuss likelihood and impact. Likelihood is just as it sounds. It's a weighted risk factor based on the applicability of a risk. How likely is it that it’s going to happen today? Tomorrow? Next year? Next month? While impact discusses the actual ultimate impact of the threat. What is it going to do to my organization if this threat is realized? What systems does it hit and what is the magnitude of that threat being realized within my organization?
There are two items that are of special importance in a risk assessment. You will often hear us discuss likelihood and impact. Likelihood is just as it sounds. It's a weighted risk factor based on the applicability of a risk. How likely is it that it’s going to happen today? Tomorrow? Next year? Next month? While impact discusses the actual ultimate impact of the threat. What is it going to do to my organization if this threat is realized? What systems does it hit and what is the magnitude of that threat being realized within my organization?
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