Risk is typically assessed by combining risk impact and likelihood. Impact refers to the potential consequences if the risk event occurs, while likelihood refers to the probability of the event happening.
Threat level (A) and vulnerability score (C) are factors that contribute to likelihood, but likelihood itself is the direct input to risk calculation.
[Reference: ISACA materials on risk assessment methodology, often within the Risk IT Framework and related publications, discuss the fundamental relationship between impact and likelihood in determining risk levels. This is often represented in a risk matrix., ]
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