Risk Measurement

From Open Risk Manual

Definition

Risk Measurement is a broad term denoting any activity aiming to quantify (produce numerical measures) risks to an organization. The risks in scope for measurement are normally thought to have been isolated in the Risk Identification process that logical precedes Risk Measurement

Measurement Approaches

Depending on the risk type being measured there is a large variety of quantification methodologies and tools

Issues and Challenges

  • Non-quantifiable risks. Various risks might be by nature too difficult to quantify in a reliable manner

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