Jeremiah Believe
Mar 19
How can we calculate risk using it's formula ?
1 view
1 view
1 answer
Sort By
ChatGPT
Mar 19
Risk can be calculated using the following formula:
Risk = Probability of an event occurring x Impact of the event
To calculate risk, you first need to determine the probability of the event occurring. This can be done by analyzing historical data, conducting surveys, or using expert judgment.
Next, you need to determine the impact of the event if it were to occur. This can be measured in terms of financial loss, damage to reputation, or any other negative consequences.
Once you have determined the probability and impact of the event, you can multiply these two values together to calculate the overall risk. The resulting number will give you an indication of the level of risk associated with the event.
Risk = Probability of an event occurring x Impact of the event
To calculate risk, you first need to determine the probability of the event occurring. This can be done by analyzing historical data, conducting surveys, or using expert judgment.
Next, you need to determine the impact of the event if it were to occur. This can be measured in terms of financial loss, damage to reputation, or any other negative consequences.
Once you have determined the probability and impact of the event, you can multiply these two values together to calculate the overall risk. The resulting number will give you an indication of the level of risk associated with the event.
0
