Residual Risk
| 1. Residual Risk is the remaining risk which cannot be defined in more detail after elimination or inclusion of all conceivable quantified risks in a risk consideration. Residual risk is the level of uncontrolled risk remaining after the risk treatment.
Related Terms: Risk Acceptance.
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2. Risk remaining after risk treatment.
(Source: ISO 22399:2007 – Societal Security - Guideline for Incident Preparedness and Operational Continuity Management) - clause 3.30
| 3. Risk (2.1) remaining after risk treatment (2.25)
Notes (1) : Residual risk can contain unidentified risk. Notes (2) : Residual risk can also be known as “retained risk”. [ISO Guide 73:2009, definition 3.8.1.6] (Source: ISO 31000:2009 – Risk Management — Principles and Guidelines) - clause 2.27 |
4. The level of uncontrolled risk remaining after all cost-effective actions have been taken to lessen the impact and probability of a specific risk or group of risks, subject to the organizations risk appetite.
(Source: Business Continuity Institute - BCI)
