Re: risk assessment - Likelihood determination

AS/NZ 4360 Deals with Risk Management and provides guidance on the
likelihood of occurence for risks.

My suggestion to you is to adopt one of the Standards (ISO) and use it for
consistency across the organisation that you are conducting the risk
assessment for.  This should in theory mean that when it comes to the
likelihood at least that a comparison can be made given the common
definitions.

As an aside I feel that sometimes there are too many i.e

Insignificant
Negligible
Unlikely
Possible
Likely
Almost Certain
Certain

Too many and it becomes a problem especially for risks that are not expected
to occur much or even at all.

regards,

Ryan.

On 15 Dec 2005 17:54:01 -0000, laptop32901@yahoo.com <laptop32901@yahoo.com>
wrote:
> hello all,
>
> Do any of you have any links (URLs) you can suggest for risk assessment
> methodologies or frameworks that provide specific guidance and examples on
> how to estimate the "likelihood of occurrence" of risks?
>
> I am familiar with NIST SP 800-30, and I am aware of 800-30's definitions
> of high, medium, and low.  I am looking for more detailed guidance and
> examples, if any exist.
>
> I am also aware of the MS Security Risk Mgmt guide, Chapter 4, which says
> a high probability risk is one expected to occur within one year.  Has
> anyone seen similar or different definitions from other sources?