Risks are an unavoidable aspect of life, and we are all immediately aware of them. A risk is the chance of something going wrong and having a bad outcome. Risk management is at the center of most businesses and the core of many sectors, including insurance. To gain a competitive advantage, good organizations identify and manage risks efficiently. In this session, we’ll look at some fundamental risk concepts and how they relate to cybersecurity. Risk value = Consequence x Likelihood The impact and accompanying damages are referred to as the consequence.
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