Definition of Risk

Risk is defined as a function of the nature and magnitude of a threat, the vulnerabilities to that threat, and the consequences that could result.

graphic showing that risk is assessed as a function of consequences, vulnerabilities, and threats.

A widely used approach is to define the risk function as the product of the three fundamental variables:

Risk = Threat x Vulnerability x Consequence

graphic showing that risk function as the product of Threat, Vulnerability and Consequence in abbreviated form.
The remainder of this lesson provides you with the information needed to assess your risks