Which of the following best defines 'vulnerability' in risk assessment?

The definition of 'vulnerability' in risk assessment refers to the inherent weaknesses that can be exploited by threats, leading to potential harm or loss. Understanding vulnerabilities is crucial because it emphasizes identifying areas within an organization or system that are susceptible to attacks or incidents, whether they are physical, cyber, or procedural.

By focusing on the weaknesses present, risk assessments enable organizations to implement targeted measures to strengthen those areas, thereby reducing the risk of exploitation. This definition aligns perfectly with the context of risk management, as it allows for proactive steps to mitigate potential threats rather than merely reacting to incidents after they occur. Emphasizing vulnerabilities highlights the importance of conducting thorough assessments to uncover and address these weak points effectively.