In ORM, probability refers to which concept?

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Multiple Choice

In ORM, probability refers to which concept?

Explanation:
In ORM, probability is the chance that a hazard will occur in a given situation. It focuses on how likely it is that the hazard manifests, not on how severe the outcome would be or how long you’re exposed to it. The severity describes how bad the impact would be if it happens, while exposure or duration covers how long you’re at risk. ORM uses probability together with severity to determine the overall risk level and guide which controls to apply. For example, a hazard with a high likelihood of occurring but moderate consequences still needs attention because its risk level can be significant.

In ORM, probability is the chance that a hazard will occur in a given situation. It focuses on how likely it is that the hazard manifests, not on how severe the outcome would be or how long you’re exposed to it. The severity describes how bad the impact would be if it happens, while exposure or duration covers how long you’re at risk. ORM uses probability together with severity to determine the overall risk level and guide which controls to apply. For example, a hazard with a high likelihood of occurring but moderate consequences still needs attention because its risk level can be significant.

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