Which of the following best describes risk?

Risk is best described as the combination of the probability of an event and its consequence. This definition succinctly captures the essence of risk assessment in cybersecurity and other fields. When evaluating risk, it is essential to consider not only how likely it is that a certain event will occur but also the potential impact or severity of that event if it does happen. Therefore, risk is fundamentally about understanding the relationship between likelihood and impact, enabling organizations to prioritize and manage their risks effectively.

By recognizing risk in this way, organizations can better allocate resources, employ appropriate risk management strategies, and develop mitigation plans that address the most significant threats to their assets. This comprehensive understanding is crucial in cybersecurity, where identifying and evaluating risks can lead to more robust defenses against potential attacks and vulnerabilities.