To assess the risk of glaucoma, we primarily use eye pressure, corneal thickness, and optic nerve appearance (cupping) as indicators. Some have advocated the use of peripapillary atrophy as an additional risk factor. Peripapillary atrophy appears as a ring around the optic nerve as viewed from inside the eye.
I've always been skeptical and not considered peripapillary atrophy much in my assessment of glaucoma risk. This article indicates that adding peripapillary atrophy to the list of risk factorrs does not improve the ability to distinguish glaucoma from ocular hypertension patients. To me, peripapillary atrophy is only a minor risk factor in terms of importance.