[Answer] What do of the terms “frequent likely occasional seldom and unlikely” describe in the risk assessment matrix?

What do of the terms “frequent likely occasional seldom and unlikely” describe in the risk assessment matrix?

Words of estimative probability (WEP or WEPs) are terms used by intelligence analysts in the production of analytic reports to convey the likelihood of a future event occurring. A well-chosen WEP gives a decision maker a clear and unambiguous estimate upon which to base a decision. Ineffective WEPs are vague or misleading about the likelihood of an event.

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In quantitative risk assessment an annualized loss expectancy (ALE) may be used to justify the cost of implementing countermeasures to protect an asset. This may be calculated by multiplying the single loss expectancy (SLE) which is the loss of value based on a single security incident with the annualized rate of occurrence (ARO) which is an estimate of how often a threat would be …

Risk perception is the subjective judgement that people make about the characteristics and severity of a risk .The phrase is most commonly used in reference to natural hazards and threats to the environment or health such as nuclear power.Several theories have been proposed to explain why different people make…