ERM glossary

Likelihood

الاحتمالية احتمال وقوع الخطر خلال فترة معيّنة.

Likelihood is the probability that a risk event will occur within a given period. On a 5×5 scale it is rated 1 (rare) to 5 (almost certain).

Combined with impact, likelihood produces a risk score that positions the risk on the risk heat map. It is assessed both before controls (inherent risk) and after (residual risk).

Related terms

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Rukn ERM puts likelihood to work in a live, mobile, bilingual risk program — aligned to COSO ERM 2017.

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