View source for Risk

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| '''1.''' Risk is the potential [[Loss|loss]] exposure due to a [[Threat|threat]]; which causes a [[Disruption|disruption]] to business operations, and preventing them from achieving the [[Minimum_Business_Continuity_Objective_(MBCO)|Minimum Business Continuity Objective (MBCO)]].
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'''Related Terms''': [[Risk_Likelihood|Risk Likelihood]], [[Risk_Impact|Risk Impact]], [[Risk_Level|Risk Level]], [[Risk_Rating|Risk Rating]], [[Threat]], [[Crisis Scenario]], [[Risk Appetite]], [[Risk Tolerance]], [[Risk Threshold]]

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'''2.''' Effect of uncertainty on [[Objective|objectives]].

'''''Notes (1)'''''&nbsp;: An effect of a deviation from the expected - positive or negative.

'''''Notes (2)'''''&nbsp;: [[Objective|Objectives]] can have different aspects (such as financial, health, safety, and environmental goals) and can apply at different levels (such as strategic, organizational-wide, project, product, [[Process|process]]). An [[Objective|objective]] can be expressed in other ways, e.g. as an intended outcome, a purpose, an operational criterion, as a [[Business_Continuity_(BC)|business continuity]] [[Objective|objective]] or by the use of other words with similar meaning (e.g. aim, goal, target).

'''''Notes (3)'''''&nbsp;: Risk is often characterized by reference to potential [[Event|events]] (Guide 73, 3.5.1.3) and consequences (Guide 73, 3.6.1.3), or a combination of these.

'''''Notes (4)'''''&nbsp;: Risk is often expressed in terms of a combination of the consequences of an [[Event|event]] (including changes in circumstances) and the associated [[Likelihood|likelihood]] (Guide 73, 3.6.1.1) of occurrence.

'''''Notes (5)'''''&nbsp;: Uncertainty is the state, even partial, of deficiency of information related to, understanding or knowledge of, an [[Event|event]], its consequences, or [[Likelihood|likelihood]].

'''''Notes (6)'''''&nbsp;: In the context of [[Business_Continuity_(BC)|business continuity]] management system standards, [[Business_Continuity_(BC)|business continuity]] [[Objective|objectives]] are set by the [[Organization|organization]], consistent with the [[Business_Continuity_(BC)|business continuity]] [[Policy|policy]], to achieve specific results. When applying the term risk and components of risk management, this should be related to the [[Objective|objectives]] of the [[Organization|organization]] that include, but are not limited to the [[Business_Continuity_(BC)|business continuity]] [[Objective|objectives]] as specified in 6.2.

{{ISO 22301 Source}} - clause 3.48

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| '''3.''' Something that might happen and its effect(s) on the achievement of objectives. 
{{NCEMA 7000 Source}}

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'''4.''' Effect of uncertainty on objectives.

'''''Notes (1)'''''&nbsp;: An effect is a deviation from the expected - positive and/or negative.

'''''Notes (2)'''''&nbsp;: Objectives can have different aspects (such as financial, health and safety, and environmental goals) and can apply at different levels (such as strategic, organization-wide, project, product, and process).

'''''Notes (3)'''''&nbsp;: Risk is often characterized by reference to potential events, consequences, or a combination of these and how they can affect the achievement of objectives.

'''''Notes (4)'''''&nbsp;: Risk is often expressed in terms of a combination of the consequences of an event or a change in circumstances, and the associated likelihood of occurrence.

'''''Notes (5)'''''&nbsp;: Uncertainty is the state, even partial, of deficiency of information related to, understanding or knowledge of an event, its consequence, or likelihood. ([SOURCE: ISO Guide 73])

{{ISO 22390 Source}} - clause 3.21

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| '''5.''' Combination of the probability of an event and its consequences. 
'''''Notes (1)'''''&nbsp;: The term “risk” is generally used only when there is at least the possibility of negative consequences.

'''''Notes (2)'''''&nbsp;: In some situations, risk arises from the possibility of deviation from the expected outcome or event.

{{ISO 22399 Source}} - clause 3.33

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'''6.''' Effect of uncertainty on objectives.

'''''Notes (1)'''''&nbsp;: An effect is a deviation from the expected — positive and/or negative.

'''''Notes (2)'''''&nbsp;: Objectives can have different aspects (such as financial, health and safety, and environmental goals) and can apply at different levels (such as strategic, organization-wide, project, product and process).

'''''Notes (3)'''''&nbsp;: Risk is often characterized by reference to potential events (2.17) and consequences (2.18), or a combination of these.

'''''Notes (4)'''''&nbsp;: Risk is often expressed in terms of a combination of the consequences of an event (including changes in circumstances) and the associated likelihood (2.19) of occurrence.

'''''Notes (5)'''''&nbsp;: Uncertainty is the state, even partial, of deficiency of information related to, understanding or knowledge of an event, its consequence, or likelihood.

[ISO Guide 73:2009, definition 1.1]

{{ISO 31000 Source}} - clause 2.1

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| '''7.''' Something that might happen and its effect(s) on the achievement of objectives. 
{{BS25999 Source}}

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'''8.''' Risk is the potential of exposure to [[Disruption|disruption]] due to [[Threat|threat]]. Risk affects [[Business_Continuity_(BC)|business continuity]]. It can be measured in terms of [[Probability|probability]] and [[Impact|impact]].

{{TR19 Source}}

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| '''9.''' The chance of something happening, measured in terms of [[Probability|probability]] and consequences. The consequence may be either positive or negative. Risk in a general sense can be defined as the [[Threat|threat]] of an action or inaction that will prevent an [[Organization|organization]]’s ability to achieve its business objectives. The results of a risk occurring are defined by the [[Impact|impact]]. 
{{BCI Source}}

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'''10.''' Potential for exposure to [[Loss|loss]]. Risks, either man-made or natural, are constant. The potential is usually measured by its [[Probability|probability]] in years.

('''Source:''' Disaster Recovery Institute International / Disaster Recovery Journal - DRII/DRJ)

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| '''11.''' The chance of something happening that will have an [[Impact|impact]] on objectives. 
'''''NOTE 1''':A risk is often specified in terms of an [[Event|event]] or circumstance and the consequences that may flow from it.''

'''''NOTE 2''':Risk is measured in terms of a combination of the consequences of an [[Event|event]] and their [[Likelihoods|likelihoods]].''

'''''NOTE 3''':Risk may have a positive or negative [[Impact|impact]].''

'''''NOTE 4''':See ISO/IEC Guide 51,for issues related to safety.''

{{HB221 Source}}

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'''12.''' The chance of something happening that will have an [[Impact|impact]] upon objectives.It is measured in terms of consequence and [[Likelihood|likelihood]].

{{HB292 Source}}

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| '''13.''' A measure of the exposure to which an [[Organization|organization]] may be subjected.This is a combination of the [[Likelihood|likelihood]] of a business [[Disruption|disruption]] occurring and the possible [[Loss|loss]] that may result from such business [[Disruption|disruption]]. 
{{ITIL Source}}

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'''14.''' Combination of the probability of an [[Event|event]] and its consequence. [ISO/IEC Guide 73:2002]

{{MS1970 Source}}

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| '''15.''' Effect of uncertainty on objectives. 
''NOTES:''

*An effect is a deviation from the expected - positive and/or negative. 
*Objectives can have different aspects such as financial, health and safety, and environmental 

goals and can apply at different levels such as strategic, organization-wide, project, product, and process.

*Risk is often characterized by reference to potential events, consequences, or a combination 

of these and how they can affect the achievement of objectives.

*Risk is often expressed in terms of a combination of the consequences of an event or a change 

in circumstances, and the associated likelihood of occurrence.

{{AS/NZS 5050.1 Source}}

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'''16.''' Effect of uncertainty on objectives.

''NOTES:''

*An effect is a deviation from the expected - positive and/or negative. 
*Objectives can have different aspects such as financial, health and safety, and environmental 

goals and can apply at different levels such as strategic, organization-wide, project, product, and process.

*Risk is often characterized by reference to potential events, consequences, or a combination 

of these and how they can affect the achievement of objectives.

*Risk is often expressed in terms of a combination of the consequences of an event or a change 

in circumstances, and the associated likelihood of occurrence.

{{AS/NZS 5050.2 Source}}

'''17.'''

*The chance of being exposed to an infectious agent by its specific transmission mechanism. 
*The chance of becoming infected if exposed to an infectious agent by its specific transmission mechanism. 

{{CDC}}

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