Question

A risk scorecard provides a weighted number for each event or threat and the probability of that threat occurring. Which factors are needed to complete a threat ranking index?

A. Risk level, impact, and the probability of event occurrence
B. Risk category, classification, and reporting requirements
C. Speed of onset, existing mitigation, and severity of impact
D. Known knowns, known unknowns, and unknown unknowns

Answer 1

To complete a threat ranking index, one must consider the Risk level, impact, and probability of event occurrence which are key factors in risk management and prioritization.

Step-by-step explanation:

To complete a threat ranking index, certain factors need to be considered. The most relevant factors for this process are Risk level, impact, and the probability of event occurrence. A risk scorecard typically provides a way to assess the potential threats or events by assigning a weighted number to each, indicating how likely they are to happen and what the consequences would be if they did. Risk level pertains to the severity of the threat to the organization or project, impact refers to the consequences that the threat would have if it were to occur, and probability is the likelihood of the threat occurring.

When creating or evaluating a threat ranking index, it is crucial to look at these factors to get a comprehensive understanding of what risks an organization faces and how to prioritize them. Risk management involves identifying, analyzing, and responding to risk factors, and these key elements play a pivotal role in that process.