risk assessment - technical definition

A report that shows assets, vulnerabilities, likelihood of damage, estimates of the costs of recovery, summaries of possible defensive measures and their costs and estimated probable savings from better protection. A "risk analysis" is the process of arriving at a risk assessment, which is also called a "threat and risk assessment." A "threat" is a harmful act such as the deployment of a virus or illegal network penetration. A "risk" is the expectation that a threat may succeed and the potential damage that can occur. See risk management.