This is the first book to introduce the full spectrum of security and risks and their management. Author and field expert Bruce Newsome helps readers learn how to understand, analyze, assess, control, and generally manage security and risks from the personal to the operational. They will develop the practical knowledge and skills they need, including analytical skills, basic mathematical methods for calculating risk in different ways, and more artistic skills in making judgments and decisions about which risks to control and how to control them.



This chapter defines risk, explains how usefully to describe a particular risk, explains how risks are categorized, introduces different statistical calculations of risk, and describes how to analyze and assess risks.

Defining a Risk

At most basic, risks are the potential returns from an event, where the returns are any changes, effects, consequences, and so on, of the event (see Chapter 7 for more on returns and events). As some potential event becomes more likely or the returns of that event become more consequential, the higher becomes the risk. Realizing risk as a resultant of these two vectors makes risk more challenging but also more useful than considering either alone.

Taken alone, either the likelihood or the return would be an unreliable indicator of the risk. ...

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