BCM BOK2

Residual Risk Risk Acceptance Risk Treatment Risk Tolerance( Residual Risk, Risk Acceptance, Risk Treatment, Risk Tolerance ) is the remaining total( remaining, total ) risk which cannot be defined in more detail after elimination or inclusion of all conceivable quantified risks in a risk consideration. Residual risk is the level of uncontrolled risk remaining after the risk treatment.

Risk Acceptance Risk Treatment Risk Tolerance Residual Risk( Risk Acceptance, Risk Treatment, Risk Tolerance, Residual Risk ) is to make an informed decision to accept the likelihood total( likelihood, total ) and impact probability( impact, probability ) of a particular risk. Risk Acceptance depends on risk criteria and the risk appetite of Top Management.

Key Planing Scenario (KPS) Risk Appetite Worst Case Disaster Scenario( Key Planing Scenario (KPS), Risk Appetite, Worst Case Disaster Scenario ) provides the BC Team BCP Team( BC Team, BCP Team ) with a perspective of the magnitude level( magnitude, level ) of disaster that an organization is willing to commit the resources human resources( resources, human resources ) to mitigate and is acceptable to the organisation. This organisation includes the Executive Management, Organization BCM Coordinator, BCP team, DRP team and the Crisis Management Team.

A Man-made Threat is an event resulting from human intent sabotage( human intent, sabotage ), negligence, or error. It is divided into into two category: human management( human, management ) or technology financial( technology, financial ).

Natural Threat Technology Threat( Natural Threat, Technology Threat ) is a threat resulting from the effect of nature environment( nature, environment ) that may cause a disruptive impact effect( impact, effect ) to an organization.

Period of Disruption Key Planning Scenario( Period of Disruption, Key Planning Scenario ) is the expected residual existing( residual, existing ) disruption resulting from each identified threats, taking into consideration existing controls. The period of disruption is an estimated duration during which the organization’s operations are disrupted (operationally intentionally( operationally, intentionally )), or access to the primary location is denied (infrastructure premise( infrastructure, premise )).

A Threat Disaster Hazard( Threat, Disaster, Hazard ) is an indication or warning of probable man-made or natural situation that can cause disruption disturbance( disruption, disturbance ) to an organization’s operations or services.

The disruption caused by the occurrence of the threat disaster( threat, disaster ). It can be operational in nature, causing disruption to the functionality revenue( functionality, revenue ) of the organization, or infrastructure in nature which will deny access to or usage of the primary location site( location, site ).

Worst Case Scenario Key Planning Scenario( Worst Case Scenario, Key Planning Scenario ) is the worst possible condition situation( condition, situation ) or outcome out of the several possibilities alternatives( possibilities, alternatives ) in planning for a disaster crisis( disaster, crisis ).

Risk Analysis Risk Rating Risk Assessment( Risk Analysis, Risk Rating, Risk Assessment ) is the process to evaluate and determine the risk rating, which is the product of risk likelihood likelihood( risk likelihood, likelihood ) and risk impact impact( risk impact, impact ).

Risk Appetite Risk Impact Risk Level( Risk Appetite, Risk Impact, Risk Level ) is amount and the type of risks that an organization is willing to take in or absorb.

Risk Assessment Risk Appetite Risk Likelihood Risk Impact( Risk Assessment, Risk Appetite, Risk Likelihood, Risk Impact ) is the overall process of risk identification risk determination( risk identification, risk determination ), risk analysis risk assessment( risk analysis, risk assessment ) and risk evaluation.

Risk Avoidance Risk Treatment( Risk Avoidance, Risk Treatment ) is to make an informed decision not to become involved in or to withdraw from a risk situation.

Risk Evaluation Risk Appetite Risk Assessment Risk Level( Risk Evaluation, Risk Appetite, Risk Assessment, Risk Level ) is the process used to compare the estimated risk against the given risk criteria so as to determine the significance of the risk.

Risk Impact Risk Appetite Risk Likelihood Risk Rating Impact( Risk Impact, Risk Appetite, Risk Likelihood, Risk Rating, Impact ) is an outcome resulting from a threat that will impact an organization objectives or assets.

Risk Level Risk Appetite Risk Likelihood Risk Impact( Risk Level, Risk Appetite, Risk Likelihood, Risk Impact ) is the overall level of assessed risk to the risk rating.

Risk Likelihood Risk Appetite Risk Impact Risk Rating( Risk Likelihood, Risk Appetite, Risk Impact, Risk Rating ) is the state of being probable or chance of a threat occurring.

Risk Mitigation Risk Reduction( Risk Mitigation, Risk Reduction ) is to implement measures so as to lower the exposure to the risk.

Risk Rating Risk Level( Risk Rating, Risk Level ) is the result of the multiplication of the assigned value for Risk Likelihood against the assigned value of Risk Impact Risk Appetite( Risk Impact, Risk Appetite ).

Risk Reduction Risk Treatment Risk Mitigation Risk Transference( Risk Reduction, Risk Treatment, Risk Mitigation, Risk Transference ) is to take appropriate actions to lessen the likelihood, negative consequences or both, associated with a risk.

Risk Tolerance Risk Acceptance Residual Risk( Risk Tolerance, Risk Acceptance, Residual Risk ) is the amount if risk that an organization is willing to accept or be exposed to.

Risk Transference Risk Treatment( Risk Transference, Risk Treatment ) refers to the shifting of the burden of loss for a risk to another party through legislation, contract, insurance or other means.

Risk Treatment Risk Management Risk Tolerance Residual Risk( Risk Treatment, Risk Management, Risk Tolerance, Residual Risk ) is the selection and implementation of appropriate options for dealing with risk.

A Crisis Event Crisis Scenario( Crisis Event, Crisis Scenario ) is an event (or occurrences that happen over a period of time) leading up to the crisis can pertain to people or human resources.

A Crisis Scenario Crisis( Crisis Scenario, Crisis ) describes a situation that might disrupt the business.

Impact Risk Impact( Impact, Risk Impact ) is an evaluated consequence of a particular effect due to the cause, such as a threat.

Hazard Threat Risk( Hazard, Threat, Risk ) is potential harm or damage, or a situation which poses a level of threat to life, health, property or environment.