A risk scenario is a hypothetical situation that describes how a risk event could adversely affect an
organization’s objectives, assets, or operations. A risk scenario can be used for riskanalysis,which is
the process of estimating the likelihood and impact of the risk event, and evaluating the
effectiveness and efficiency of the risk response1.
One of the essential components of a risk scenario is the threat type, which is the source or cause of
the risk event. The threat type can be classified into various categories, such as natural, human,
technical, environmental, or legal. The threat type can help to define the characteristics, motivations,
capabilities, and methods of the risk event, and to identify the potential vulnerabilities and
exposures of the organization. The threat type can also help to determine the frequency and severity
of the risk event, and to select the appropriate risk response strategies and controls23.
The other options are not the components of a risk scenario, but rather the outcomes or inputs of
risk analysis. Risk appetite is the amount and type of risk that an organization is willing to accept in
pursuit of its objectives. Risk appetite can help to guide the risk analysis by providing a high-level
statement of the desired level of risk taking and tolerance4. Risk tolerance is the acceptable variation
in the outcomes related to specific objectives or risks. Risk tolerance can help to measure the risk
analysis by providing quantitative or qualitative indicators of the acceptable range of risk exposure
and performance4. Residual risk is the remaining risk after the risk response has been implemented.
Residual risk can help to monitor the risk analysis by providing feedback on the effectiveness and
efficiency of the risk response and the need for further action. Reference =
Risk Analysis - ISACA
Threat - ISACA
Threat Modeling - ISACA
Risk Appetite and Risk Tolerance - ISACA
[Residual Risk - ISACA]
[CRISC Review Manual, 7th Edition]
