In Microsoft's risk management model, what term describes the likelihood of a risk occurring?

The term that describes the likelihood of a risk occurring within Microsoft's risk management model is probability. Probability quantifies the chance that a particular risk will materialize, allowing organizations to assess the potential risk landscape effectively. By evaluating the probability, analysts can prioritize risks based on their likelihood and the severity of impact they may have, facilitating better decision-making and risk management strategies.

In this context, while exposure, impact, and mitigation are all relevant concepts in risk management, they do not specifically refer to the likelihood of occurrence. Exposure often describes the extent to which an organization might be affected by a risk, impact refers to the consequences or effects should the risk occur, and mitigation involves strategies implemented to reduce the negative impact or likelihood of risks. Understanding these distinctions is essential for a well-rounded grasp of risk management principles.