|1. Risk Level is the overall level of assessed risk to the risk rating.
2. Magnitude of a risk (2.1) or combination of risks, expressed in terms of the combination of consequences (2.18) and their likelihood (2.19)
[ISO Guide 73:2009, definition 220.127.116.11]
(Source: ISO 31000:2009 – Risk Management — Principles and Guidelines) - clause 2.23