Is risk a function of vulnerability and impact?

Yes, risk can be considered a function of vulnerability and impact. Vulnerability refers to the susceptibility of a system or individual to harm, while impact represents the potential consequences of an event or threat. Together, these elements help in assessing the overall risk by evaluating how likely it is for a negative event to occur and the severity of its effects. Therefore, a higher vulnerability and greater potential impact typically lead to an increased level of risk.