In ERM Risk Assessment, Possibility May Refer to Assessing Likelihood

question 50

True/False

In ERM risk assessment, possibility may refer to assessing likelihood using a quantitative measure, such as percentages.

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Definitions:

Authority

The faculty to govern, resolve issues, and secure compliance.

Self-Control

The skill to manage one's emotional states, cognitive processes, and actions in situations presenting temptations and spontaneous impulses.

Continuous Schedules

Work or production schedules that operate non-stop, often on a 24/7 basis, to ensure uninterrupted operations.

Regular Performance

The consistent or usual level of productivity or efficiency achieved by an individual or organization.