What is the definition of risk in the context of information security?

In the context of information security, risk is defined as the likelihood that a threat may exploit a vulnerability. This definition encompasses two critical components: the presence of a potential threat and the existence of a weakness within an organization's security framework that could be targeted. By assessing the likelihood of a successful attack or breach, organizations can prioritize their security measures and allocate resources more effectively to mitigate those risks.

Understanding risk in this manner allows organizations to adopt a proactive approach to security by identifying where vulnerabilities exist and what external threats are most likely to exploit them. This focus on likelihood provides clarity in risk management strategies, enabling informed decision-making regarding which security controls to implement based on their potential to reduce known risks.

The other definitions refer to significant aspects of security but do not capture the full essence of what risk means in this specific context. The total damage an asset could cause relates more to impact rather than risk itself. Financial loss from a data breach is a consequence of risk, rather than the definition of risk. Similarly, the effectiveness of a security control pertains to evaluating measures after risks have been identified, instead of defining risk itself.