ABSTRACT
In order to perform the activities required for Risk Management, one must understand risk and the fundamental elements of which it is composed. Risk is defined as the probability of an unwanted occurrence or the realization of a threat. Basic Elements of Risk are:
Asset — An item or entity of quantitative or qualitative value to an organization. This can include products, processes, electronically stored information, and physical as well as intellectual property resources, or information pertinent to relationships with partners.
