Evaluate both likelihood and severity against defined risk: Which interpretation best supports risk

Risk prioritization considers both likelihood and consequence severity rather than relying on either factor alone.

The question

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1. Prioritize the frequent error because exposure is greater.

   Frequency matters, but prioritizing it automatically could underweight the severe consequences of the rarer access-denial error.
2. Evaluate both likelihood and severity against defined risk criteria. ✓

   Risk prioritization should consider how often harm may occur and how serious its consequences would be in context.
3. Treat both risks equally until more incidents are observed.

   Waiting for more incidents ignores current severity information and delays a reasoned prioritization decision based on available evidence.
4. Prioritize the rare error because severity determines risk alone.

   Severity is important, yet likelihood also informs prioritization; neither factor alone fully describes the risk decision.

How to remember it

Risk prioritization considers both likelihood and consequence severity rather than relying on either factor alone.

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