Скачать или смотреть EP07. What is probability or likelihood while doing Risk Assessment. Full Video @security_for_you

EP07. What is probability or likelihood while doing Risk Assessment.
Full Video @security_for_you

In risk analysis, probability or likelihood is the measurement of the chance or frequency that a specific event or outcome will occur. It is expressed as a percentage or a decimal between 0 and 1, with 0 indicating that the event is impossible, and 1 indicating that it is certain.

From an organizational point of view, probability can be calculated by analyzing historical data, expert opinions, and other relevant information to determine the likelihood of a particular risk occurring. This information can be used to develop a probability matrix or a risk assessment tool that considers the likelihood of occurrence and the potential impact of the risk.

To calculate the probability of a risk, an organization can use a quantitative or qualitative approach. A quantitative approach involves using statistical data and models to calculate the probability of a risk. A qualitative approach involves using expert judgment and subjective assessments to determine the likelihood of a risk.

Once the probability of a risk is calculated, it can be used in conjunction with the potential impact or consequences of the risk to determine the overall risk level. This information can be used to prioritize risks and develop risk management strategies to mitigate or avoid potential negative outcomes