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Your glossary for risk and compliance

Helpful definitions of all of the terms you need to know to better manage risk and compliance.

Risk
ISO 31000

Level of risk

The level of risk is its magnitude. It is estimated by considering and combining consequences and likelihoods. A level of risk can be assigned to a single risk or to a combination of risks.

Common level of risk categories include the following: extreme risk, high risk, moderate risk, and low risk. Of course, you need to define each category so that everyone is using the same terminology in the same way.
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