DRJ Glossary of Business Continuity Terms
 |
|
| UPDATED: March 2019 |
Glossaries
| Term | Definition |
|---|---|
| Rest Centre |
A building taken over by the Local Authority for the temporary accommodation of evacuees |
| Restart |
The procedure or procedures that return applications and data to a known start point. |
| Restoration |
Process of planning for and/or implementing procedures for the repair of hardware, relocation of the primary site and its contents, and returning to normal operations at the permanent operational location. |
| 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 | |
| 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. |
| Risk Concentration |
The risks associated with having Mission Critical Activities and/or their dependencies, systemic processes and people located either in the same building or close geographical proximity (zone), that are not reproduced elsewhere i.e. a single point of failure. |
| Risk Controls |
All methods of reducing the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and non-insurance transfer of risk |