Assessing Your Risk: Descriptor for Risk Likelihood

Descriptor for Risk Likelihood

In the 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 in understanding 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.  Each scale has a descriptor.

• 1 = Very Low
• 2 = Low
• 3 = Medium
• 4 = High
• 5 = Very High
  
  

The detailed likelihood breakdown is shown below.

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