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Volume 32, Issue 3

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Glossary of terms used on this site

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UPDATED: March 2019
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Corporate Governance
The system/process by which top management of an organization are required to carry out and discharge their legal, moral and regulatory accountabilities and responsibilities.
Corporate Risk
A category of risk management that looks at ensuring an organization meets its corporate governance responsibilities takes appropriate actions and identifies and manages emerging risks.
Corrective Action
Action to eliminate the cause of a non-conformity and to prevent recurrence.
Control of Substances Hazardous to Health regulations 2002. A European Union directive.
Cost Benefit Analysis
A process (after a BIA and risk assessment) that facilitates the financial evaluation of different strategic BCM options and balances the cost of each option against the perceived savings.Financial technique for measuring the cost of implementing a particular solution and compares that with the benefit delivered by that solution.
The provision of assistance to staff, customers and others who have suffered mental or physical injury in a disaster or incident.
Creeping Disaster
A slow degradation of service or deterioration in quality or performance over a period of time which ultimately leads to a business interruption of disaster proportions.
Abnormal and unstable situation that threatens the organization?s strategic objectives, reputation or viability.
Crisis Management
The overall direction of an organization?s response to a disruptive event, in an effective, timely manner, with the goal of avoiding or minimizing damage to the organization?s profitability, reputation, and ability to operate.Development and application of the organizational capability to deal with a crisis.
Crisis Management Team (CMT)
A team consisting of key leaders (e.g., media representative, legal counsel, facilities manager, disaster recovery coordinator), and the appropriate business owners of critical functions who are responsible for recovery operations during a crisis.
A qualitative description used to emphasize the importance of a resource, process or function that must be available and operational either constantly or at the earliest possible time after an incident, emergency or disaster has occurred.
Critical Activities
Those activities which have to be performed to deliver the key products and services and which enable an organization to meet the most important and time-sensitive objectives.
Critical Business Functions (CBF)
The critical operational and/or business support functions that could not be interrupted or unavailable for more than a mandated or predetermined timeframe without significantly jeopardizing the organization.Vital functions without which an organization will either not survive or will lose the capability to effectively achieve its critical objectives.
Critical Component Failure Analysis
A review of the components involved in delivery of an enterprise wide process and an assessment of the relationship dependencies and impact of failure of one component.
Critical Data Point
-The point in time to which data must be restored and synchronized to achieve a Maximum Acceptable Outage.