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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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Glossaries

TermDefinition
Risk Mitigation
Implementation of measures to deter specific threats to the continuity of business operations, and/or respond to any occurrence of such threats in a timely and appropriate manner. Activities taken to reduce the severity or consequences of an emergency.
Risk Profiling
The identification and prioritization of threats in a Risk Analysis methodology.
Risk Ranking
The ordinal or cardinal rank prioritisation of the risks in various alternatives, projects or units
Risk Reduction
A selective application of appropriate techniques and management principles to reduce either probability of an occurrence or its impact, or both.
Risk Register
All risks of an organization, listed, ranked and categorized so that appropriate treatments can be assigned to them.
Risk Source
Element which alone or in combination has the intrinsic potential to give rise to risk.
Risk Transfer
A common technique used by Risk Managers to address or mitigate potential exposures of the organization. A series of techniques describing the various means of addressing risk through insurance and similar products.Refers to the shifting of the burden of loss to another party through legislation, contract, insurance or other means. It can also refer to the shifting of a physical risk or part thereof elsewhere.
Risk Treatment
Selection and implementation of measures to modify risk.
Roll Call
The process of identifying that all employees, visitors and contractors have been safely evacuated and accounted for following an evacuation of a building or site.