View source for Risk Likelihood

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| '''1.''' [[Risk]] [[Likelihood|Likelihood]] is the state of being probable or chance of a [[Threat|threat]] occurring. 
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'''Related Terms''': [[Risk]], [[Risk_Appetite|Risk Appetite]], [[Risk_Impact|Risk Impact]], [[Risk_Rating|Risk Rating]], [[Risk_Assessment|Risk Assessment]], [[Risk_Level|Risk Level]], [[Period_of_Disruption|Period of Disruption]]

'''Notes (1)''': General descriptor - "Very High", "High", "Medium", "Low", "Very Low". 
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'''2.''' Chance of something happening.
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'''''Notes (1)'''''&nbsp;: In risk management terminology, the word “likelihood” is used to refer to the chance of something happening, whether defined, measured or determined objectively or subjectively, qualitatively or quantitatively, and described using general terms or mathematically (such as a probability or a frequency over a given time period).

'''''Notes (2)'''''&nbsp;: The English term “likelihood” does not have a direct equivalent in some languages; instead, the equivalent of the term “probability” is often used. However, in English, “probability” is often narrowly interpreted as a mathematical term. Therefore, in risk management terminology, “likelihood” is used with the intent that it should have the same broad interpretation as the term “probability” has in many languages other than English.

[ISO Guide 73:2009, definition 3.6.1.1]

{{ISO 31000 Source}} - clause 2.19

'''3.''' Chance of something happening, whether defined, measured or estimated objectively or subjectively, or in term of general descriptors (such as rare, unlikely, likely, almost certain), frequencies or mathematical probabilities.

{{NCEMA 7000 Source}}

'''4.''' Chance of something happening, whether defined, measured or estimated objectively or subjectively, or in terms of general descriptors (such as rare, unlikely, likely, almost certain), frequencies or mathematical [[Probability|probabilities]].

{{BS25999 Source}}

'''5.''' Used as a general description of [[Probability|probability]] or frequency of an [[Event|event]] occurring.

{{HB292 Source}}

'''6.''' Chance of something happening.

''NOTE:'' This Standard uses the word ‘likelihood’ to refer to the chance of something happening, whether defined, measured or determined objectively or subjectively, and described using general terms or mathematically (such as a probability or a frequency over a given time period).

{{AS/NZS 5050.1 Source}}

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