What is one of the risk dimensions used by risk management professionals to analyze risks?

Speed of onset or velocity refers to how quickly a risk can impact an organization once it occurs. Understanding this dimension is crucial for risk management professionals because it helps in prioritizing risks based on their potential immediacy and urgency. By analyzing this aspect, professionals can develop proactive strategies to mitigate risks that might arise suddenly, thereby minimizing potential damage or disruption.

When evaluating risks, knowing the speed at which they can manifest allows organizations to allocate resources and focus on the most critical scenarios that could unfold rapidly, ensuring readiness and effective response plans are in place. This proactive approach is vital for maintaining operational continuity and minimizing losses, making it an essential criterion in risk analysis.