All the ‘formulas’ used to calculate risk management tend to have 5 components to them: 1) The likelihood of an incident, 2) The impact of an incident, 3) The value of an entity/asset, 4) The vulnerability of an entity/asset, and 4) Threats to that entity/asset.  Information about these 5 inputs is used to decide where (and how) organizations approach risk mitigation.

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