Information technology risk, IT risk, IT-related risk, or cyber risk is any risk relating to information technology.[1] While information has long been appreciated as a valuable and important asset, the rise of the knowledge economy and the Digital Revolution has led to organizations becoming increasingly dependent on information, information processing and especially IT. Various events or incidents that compromise IT in some way can therefore cause adverse impacts on the organization's business processes or mission, ranging from inconsequential to catastrophic in scale.
Assessing the probability or likelihood of various types of event/incident with their predicted impacts or consequences, should they occur, is a common way to assess and measure IT risks.[2] Alternative methods of measuring IT risk typically involve assessing other contributory factors such as the threats, vulnerabilities, exposures, and asset values.[3][4]