Which two components PRIMARILY must be assessed in an effective risk analysis?
A.
Visibility and duration
B.
Likelihood and impact
C.
Probability and frequency
D.
Financial impact and duration
Explanation:
The probability or likelihood of the event and the financial impact or magnitude of the event must be assessed first. Duration refers to the length of the event; it is important in order to assess impact but is secondary. Once the likelihood is determined, the frequency is also important to determine overall impact.