Risks can be quantified by multiplying the likelihood a failure will occur by the severity of the failure.

Name: Risks can be quantified by multiplying the likelihood a failure will occur by the severity of the failure.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. The combined product of the likelihood of failure with the potential impact of the failure gives the quantifiable risk of the situation. This method is often used in risk assessment and management to prioritize and mitigate potential risks.

Risks Can Be Quantified by Multiplying the Likelihood a Failure