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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
Risk Criteria
Terms of reference against which the significance of a risk is evaluated.
Risk Management (RM)
The culture, processes and structures that are put in place to effectively manage potential negative events. As it is not possible or desirable to eliminate all risk, the objective is to reduce risks to an acceptable level.Coordinated activities to direct and control an organization with regard to risk.
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.
Safe Separation Distance
An adequate geographical spread between the original and duplicate resources, the various suppliers, the replica operations or the base site and its recovery site.
Salvage & Restoration
The act of conducting a coordinated assessment to determine the appropriate actions to be performed on impacted assets.
Scenario
A pre-defined set of Business Continuity events and conditions that describe, for planning purposes, an interruption, disruption, or loss related to some aspect(s) of an organization?s business operations to support conducting a BIA, developing a continuity strategy, and developing continuity and exercise plans.
Security Review
A periodic review of policies, procedures, and operational practices maintained by an organization to ensure that they are followed and effective.