The term that accurately describes the frequency, duration, and percentage of individuals or assets exposed to a hazard is "Exposure." Exposure is a fundamental concept in operational risk management as it assesses how much risk is associated with potential hazards by quantifying how many people or assets are at risk and for how long. Understanding exposure is critical for organizations to implement effective risk management strategies, as it helps in identifying which assets are most vulnerable and how they might be impacted by certain hazards. This measurement informs the development of appropriate controls or mitigations to manage the associated risks effectively.
Risk typically refers to the combination of the likelihood of an event occurring and the consequences of that event, but it does not specifically address the frequency and duration of exposure as direct indicators. Residual risk pertains to the amount of risk remaining after controls have been put in place, and hazard analysis is a systematic process used to identify and evaluate hazards, but it does not directly quantify exposure metrics. Therefore, exposure is the most relevant term in the context of the question.