The overall ____ is simply the product of the probability of occurrence times the cost of the impact to the business times the level of significance of that impact.

Question

The overall ____ is simply the product of the probability of occurrence times the cost of the impact to the business times the level of significance of that impact. ​

Quizplus · Accepted Answer

The overall "risk of loss" is calculated by multiplying the probability of an event occurring by the cost of its impact on the business and the significance of that impact. This formula helps in assessing the potential risk in quantitative terms.

The Overall ____ Is Simply the Product of the Probability