Riskbaserad

Riskbaserad is a Swedish term that translates to "risk-based" in English. It describes an approach or methodology where decisions, actions, and resource allocation are primarily determined by the level of risk involved. This concept is applied across various fields, including finance, project management, cybersecurity, and regulatory compliance.

In a risk-based approach, an organization or individual first identifies potential risks, then assesses their likelihood and potential impact. Based on this assessment, priorities are set, and strategies are developed to mitigate, transfer, accept, or avoid the most significant risks. The underlying principle is to focus resources and efforts where they will have the greatest effect in managing potential negative outcomes or maximizing opportunities.

For instance, in financial risk management, a risk-based approach might involve concentrating on the portfolio assets with the highest volatility or potential for loss. In cybersecurity, it means prioritizing the protection of the most critical data and systems against the most probable threats. This methodology aims for efficiency and effectiveness by avoiding a one-size-fits-all strategy and instead tailoring actions to the specific risk landscape. It is a proactive rather than reactive way of handling uncertainty.