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You're reading from  Certified Information Security Manager Exam Prep Guide - Second Edition

Product typeBook
Published inDec 2022
PublisherPackt
ISBN-139781804610633
Edition2nd Edition
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Author (1)
Hemang Doshi
Hemang Doshi
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Hemang Doshi

Hemang Doshi has more than 15 years of experience in the field of system audit, IT risk and compliance, internal audit, risk management, information security audit, third-party risk management, and operational risk management. He has authored several books for certification such as CISA, CRISC, CISM, DISA, and enterprise risk management.
Read more about Hemang Doshi

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Understanding Risk

The following table illustrates the different definitions of risk:

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Certified Information Security Manager Exam Prep Guide - Second Edition
Published in: Dec 2022Publisher: PacktISBN-13: 9781804610633

Author (1)

author image
Hemang Doshi

Hemang Doshi has more than 15 years of experience in the field of system audit, IT risk and compliance, internal audit, risk management, information security audit, third-party risk management, and operational risk management. He has authored several books for certification such as CISA, CRISC, CISM, DISA, and enterprise risk management.
Read more about Hemang Doshi

Source

Risk defined as

Keywords

COSO-ERM

Potential events that may impact the entity

probability/impact

Oxford Dictionary

The probability of something happening multiplied by the resulting cost or benefit if it does

probability/cost/benefit

Business Dictionary

A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities and that may be avoided through preventive action

probability/damage

ISO 31000

The effect of uncertainty on objectives...