Risk is defined as the probability of the occurrence of an incident. Risk formulation generally begins with the likeliness of an event's occurrence, the harm it may cause and is usually denoted as Risk = ∑(events)X(Probability of occurrence)X?
C- Consequences - p80
Alternatively, risk can also be defined as: A probability of the occurrence of a threat or an event that may damage or cause loss or have other negative impact from either internal or external liabilities.
A possibility of a threat acting upon an internal or external vulnerability and causing harm to a resource.
The product of the likelihood that an event would occur and the impact that event would have on an information technology asset.
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