Answer: Assess hazards
Risk matrix. A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making. Risk is the lack of certainty about the outcome of making a particular choice.
IT risk management – Wikipedia
IT risk management – Wikipedia
Risk management – Wikipedia
Risk matrix – Wikipedia
Risk management is the identification evaluation and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize monitor and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Definitions. The Certified Information Systems Auditor Review Manual …