Can you juggle? If you can't, just imagine for a moment that you can. In the zone? Right.
Now let's try some juggling - I've got 3 nice soft
nerf balls here for you to juggle. You can do this for real if you have the equipment to hand, or you can just imagine, as you prefer ;-).
So anyway. Imagine you're not too good at juggling; maybe you are normally but juggling while trying to read this IS a little difficult. So you drop these 3 nerf balls. A lot. This would be a 'high potential risk'. When you're juggling and you're a poor juggler, or an average one who is being distracted by some idiot with a blog, you stand to drop a lot of things.
However, the
impact of the risk being realised is very low. Who cares if someone juggling nerf balls keeps dropping them? You're unlikely to damage the balls (and who cares if you do, they're very low in value) and you're unlikely to damage yourself, even if one lands right on your toe.
So here we have an example of a
high probability with a
low impact. It's easy to see that you don't need to worry about the probability of the risk being realised because the impact is non existant.
Now lets change the scenario slightly.
You knew it couldn't be that easy, right?
Now imagine that you're the very best juggler in the world. You
never drop anything that you don't intend to drop. You can juggle those 3 nerf balls all week should I ask you to. You can do all the 'circus act' tricks; juggle chain saws, flaming torches, flaming chain saws... whatever.
Now the chance of the risk being realised is very low indeed. So surely you can afford to juggle with more delicate things? Let's try some drinking glasses. The impact of dropping the items you are juggling is higher - no one likes picking up broken glass and you could even hurt yourself - but you're a good juggler so chances are you won't have to worry about this problem.
You decide that on balance, the potential impact of dropping the glasses is more than adequately offset by the improvement in your juggling skills, and carry on juggling away.
Let's shake things up a little.Happy? Good. One more change. Let's swap those drinking glasses for 3 priceless and very delicate items of
Chinese Porcelain like the model horse from the year 700AD
shown here. Absolultely priceless. Absolutely beautiful. Absolutely irreplacable. Absolutely likely to shatter into a thousand irreparable pieces if it is handled too roughly, let alone actually dropped. Can you imagine being the person who comitted an act of infamy by dropping and damaging something like that?
Hopefully, even though we're only imagining it at the moment, you all thought about that and decided that no matter how good a juggler you are, juggling with things like that is simply a "Very Bad Idea"! Regardless of the probability of the risk becoming realised, the impact is so great that you can not afford any possibility of it happening.
If this is too complex, we can summarise this whole article very easily:
"How much do I need to worry about a security issue? If I drop it, will my whole business shatter? or is it just a lot of balls?"