What is the risk probability/impact analytical model. What is a high probability / low impact risk...

What is the risk probability/impact analytical model.

What is a high probability / low impact risk and recommend a response and what can be as an example.

What is a low probability / high impact risk and recommend a response and what can be as an example.

Expert Solution

here I am going to describe about what is the probability / impact analytical model along with the what is the high probability / low impact risk and what can be as an example and what is low probability / high impact risk and what can be as an example of it.

first of all I am going to describe about the probability / impact analytical model. when it comes to the risk analysis for risk there are two components which come to the mind probability and impact. Every organisation has some risk when doing a project or any activity. risks arise because of the uncertainty in the organisation that can have a positive or a negative impact over the organisation. Probability is the consequence on which the occurring of the event take place. impact is the consequence of the probability that would happen in the organisation both of them when combined it there is determination takes place and the risks are determined in the organisation.

now I am going to describe about the high probability / low impact risk along with an example. Risk which have high probability and low impact are those risks which have low impact on the organisation but are more likely to occur as they have the higher probability to be occur in an organisation but they are everything kept on the organisation.

For example of these risks can be the risk with minor element of impact.

the risk with low probability / high impact are the risk which are less likely to occur in the organisation but if they occur they will have a higher impact in the organisation and are likely to have a great effect on the organisation the example of these kind of risks can be the risk which have major element of impact.

keosha answered 8 months ago

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