Resumption
The process of planning for and/or implementing the restarting of defined business processes and operations following a disaster.
Risk
Potential for exposure to loss which can be determined by using either qualitative or quantitative measures. Combination of the probability of an event and its consequence
Risk Acceptance
A management decision to take no action to mitigate the impact of a particular risk.
Risk Analysis
The quantification of threats to an organization and the probability of them being realized.
Risk Appetite
Total amount of risk that an organization is prepared to accept, tolerate, or be exposed to at any point in time.
Risk Assessment
Overall process of risk identification, risk analysis, and risk evaluation.
Risk Assessment / Analysis
Process of identifying the risks to an organization, assessing the critical functions necessary for an organization to continue business operations, defining the controls in place to reduce organization exposure and evaluating the cost for such controls.
Risk Avoidance
An informed decision to not become involved in or to withdraw from a risk situation.
Risk Categories
Risks of similar types are grouped together under key headings, otherwise known as "risk categories".
Risk Classification
The categorisation of risk, normally focusing on likely impact to the organization or likelihood of occurrence.
BC / DR RULES & REGULATIONS
BC GLOSSARY