The University of SydneyPage 32AS/NZS ISO 31000-2018 –Risk Management ProcessLikelihood of risk depends on;•source of the threat, motivation, and capability•nature of the vulnerability•effectiveness of current controlsLikelihood can be expressed as a scale;-probable, possible, improbable-almost certain, likely, unlikely, rare, very rare, almost incredibleAnalyse Risksl Identify current controlsl Determine consequencesl Determine likelihoodl Determine level of risk