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quantitative risk assessment

A process for assigning a numeric value to the probability of loss based on known risks and available, objective data. Used to determine potential direct and indirect costs to the company based on values assigned to company assets and their exposure to risk. For example, the cost of replacing an asset, the cost of lost productivity, or the cost of diminished brand reputation.

Related information about quantitative risk assessment:
  1. Risk assessment - Wikipedia, the free encyclopedia
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