Risk terminology
- Threat – the source of the risk event that causes uncertainty.
- Risk exposures – the amount that theoretically is at risk if the threat becomes a reality.
- Risk – the collection of threats/causes and exposures that are treated and managed as a single whole.
- Risk levels – risk level indicates how serious the risk is.
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Definition of a risk
A risk can be defined as an effect of uncertainty on the objective. It is a different outcome from what you expected and can address, create or result in opportunities and threats.
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