Difference between revisions of "Residual Risk"

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| '''1.''' Residual Risk is the remaining [[Risk|risk]] which cannot be defined in more detail after elimination or inclusion of all conceivable quantified [[Risk|risks]] in a [[Risk|risk]] consideration. Residual risk is the level of uncontrolled risk remaining after the [[Risk_Treatment|risk treatment]].  
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| '''1.''' Residual Risk is the remaining [[Risk|risk]] which cannot be defined in more detail after elimination or inclusion of all conceivable quantified [[Risk|risks]] in a [[Risk|risk]] consideration.  
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'''Notes''': Residual risk is the level of uncontrolled risk remaining after the [[Risk_Treatment|risk treatment]].  
 
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<br/> Related Terms: [[Risk_Acceptance|Risk Acceptance]], [[Risk_Treatment|Risk Treatment]], [[Risk_Tolerance|Risk Tolerance]]
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'''Related Terms''': [[Risk_Acceptance|Risk Acceptance]], [[Risk_Treatment|Risk Treatment]], [[Risk_Tolerance|Risk Tolerance]]
  
 
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Revision as of 12:31, 29 October 2020

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.

Notes: Residual risk is the level of uncontrolled risk remaining after the risk treatment.

Related Terms: Risk Acceptance, Risk Treatment, Risk Tolerance

BCMBoK Competency Level
BCMBoK 2: Risk Analysis & Review CL 2B: Intermediate (BC)


BCMBoK Competency Level
BCMBoK 2: Risk Analysis & Review CL 2C: Intermediate (CM)


BCMBoK Competency Level
BCMBoK 2: Risk Analysis & Review CL 2D: Intermediate (DR)


(Source: Business Continuity Management Institute - BCM Institute)

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)