Entrisk

Entrisk is a proposed risk metric that measures the combined exposure of an entity to adverse events arising from its interaction with a risk environment. It aims to capture both the likelihood of an event during exposure and the potential consequence if it occurs.

The term blends “entry” or “engagement” with “risk,” reflecting its emphasis on risk that emerges at the point of interaction between a system and its surroundings.

In practice, entrisk is calculated as the sum over defined exposure scenarios of the probability of each scenario multiplied by its consequence. It can be presented as a scalar or as a probability distribution to convey uncertainty. It may also incorporate time-varying exposure and data confidence weights.

Applications of entrisk span safety engineering, cybersecurity, supply chain risk management, and insurance analysis. By highlighting conditions with both high exposure and high impact, it supports prioritization of mitigation and monitoring efforts.

Advantages of the approach include its intuitive interpretation and direct integration of exposure with consequence. Limitations include dependence on how scenarios are defined, the quality and completeness of data, and subjective weighting. Entrisk can also oversimplify complex interactions among factors in dynamic systems.

See also: risk assessment, exposure, loss distribution.