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Volume 32, Issue 1

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DRJ Glossary of Business Continuity Terms


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UPDATED: March 2019
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Glossaries

TermDefinition
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
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.
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