Risk Analysis

In risk analysis, we probe the depths of a single risk. It is an investigation of a risk that results in a rating and input for risk evaluation. Risk analysis values depth over breadth. In a risk analysis, we want to rate the likelihood and consequences of a risk event. Now you might ask, But we did that during the risk identification?

This video covers how to measure the likelihood and consequences of legal risk as part of your legal risk analysis.

Key concepts and takeaways about legal risk assessment, including probability (likelihood) and consequences.

When you decide to act to deal with a risk, you are “treating” that risk, meaning that you are modifying it or changing the likelihood or consequences.