Definition

total risk

Contributor(s): Fran Sales

Total risk is an assessment that identifies all of the risk factors associated with pursuing a specific course of action.

Total risk represents a combination of the systemic risk and unsystemic risk, including potential internal and external threats and liabilities, Identifying these risks requires performing a total risk assessment, which offers a comprehensive view of  potential threats an organization might encounter. The goal of examining total risk is to make a decision that leads to the best possible outcome.

From a compliance perspective, total risk determines an organization's approach to security planning and spending, and regulatory compliance.

This was last updated in September 2014

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