Risk criteria typically include definitions of different levels of what? (Choose two.)
Risk criteria typically include definitions of different levels of what? (Choose two.)
Risk criteria typically include definitions of different levels of impact and likelihood. Impact refers to the consequence or severity of a risk if it were to occur, while likelihood refers to the probability or chance of the risk happening. These two factors are fundamental to risk assessment, as they help in determining the significance of a risk and in prioritizing risk management efforts.
Impact & Likelihood
Different levels of impact and likelihood are defined by default. Priority is an outcome of impact and urgency, not associated to Risk Management.