An expression of the risk associated with a hazard that combines its severity and probability into a An expression of the risk associated with a hazard that combines its severity and probability into?

An expression of the risk associated with a hazard that combines its severity and probability is often represented as a risk matrix or risk assessment formula. This assessment quantifies risk by evaluating the likelihood of an event occurring (probability) and the potential impact or consequences of that event (severity). By integrating these two factors, organizations can prioritize risks and implement appropriate mitigation strategies. This approach aids in informed decision-making and resource allocation for risk management.