Risk-assessment meaning

Risk assessment is defined as a report that analyzes the potential for bad things to happen and the actions which should be taken to keep them from happening or to minimize the risk.

An example of a risk assessment is a determination done by a technology expert to decide how likely it is that a virus or other harmful threat could affect a company's technology platform.

An example of a risk assessment is a determination done by an insurance agent to decide how likely it is that a given customer will have a car accident.

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A report that shows an organization's vulnerabilities and the estimated cost of recovery in the event of damage. It also summarizes defensive measures and associated costs based on the amount of risk the organization is willing to accept (the risk tolerance).A "risk analysis" is the process of arriving at a risk assessment, also called a "threat and risk assessment." A "threat" is a harmful act such as the deployment of a virus or illegal network penetration. A "risk" is the expectation that a threat may succeed and the potential damage that can occur. See risk management and risk mitigation.
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The overall process of identifying all the risks to and from an activity and assessing the potential impact of each risk.
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The determination of the potential impact of an individual risk by measuring or otherwise assessing both the likelihood that it will occur and the impact if it should occur, and then combining the result according to an agreed rule to give a single measure of potential impact.
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