In BCM Institute. this phase in the planning methodology when applied to Business Continuity (BC) is "Risk Analysis and Review."
While, when it is applied to the Crisis Management (CM) and Crisis Communication (CC) planning process, it is called "Crisis Risk Assessment" and for IT Disaster Recovery, it is called "IT RAR." When you are going in-depth into the various disciplines of BCM, CM, CC and ITDR.
This blog explains "Risk Likelihood". It is meant to assist participants to have an understanding of this concept during their respective RAR assignments.
The probability of the threat occurring. This is relative to the organisation’s operating environment and rated on a scale of 1 to 5. The detailed breakdown of likelihood is shown below.
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