Explain why risk assessment should consider both likelihood and impact rather than relying on either one alone.
Answer
Likelihood estimates how probable a harmful event is, while impact estimates the severity of its consequences. Considering both helps prioritize response and control decisions because a likely event with limited harm and an unlikely event with severe harm present different risk concerns.
Explanation
### What a good answer covers
- Likelihood concerns the chance that a threat scenario will occur.
- Impact concerns the severity of consequences if it occurs.
- Either measure alone gives an incomplete view of risk.
- Together they support prioritization and selection of controls.
### Remember
Risk decisions require both probability and consequence.
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