Risk Acceptance

1. Risk Acceptance is to make an informed decision to accept the likelihood and impact of a particular risk. Risk Acceptance depends on risk criteria and the risk appetite of Top Management. BL-B-5 Click to know more Related Terms: Risk Treatment, Risk Tolerance, Residual Risk. BCM Institute's Professional Training and Certification 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) Click to know more about expert level training (Source: Business Continuity Management Institute - BCM Institute)

A Manager’s Guide to ISO 22301 Standard for Business Continuity Management System

2. Decision to accept risk.

Notes (1);: The verb “to accept” is chosen to convey the idea that acceptance has its basic dictionary meaning.

Notes (2): Risk acceptance depends on the risk criteria.

(Source: ISO 22399:2007 – Societal Security - Guideline for Incident Preparedness and Operational Continuity Management) - clause 3.34

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3. An informed decision to accept the probability and impact of a particular risk.

(Source: Singapore Standard 540 - SS 540:2008)

4. An informed decision to accept the consequences of likely events based on risk criteria.

(Source: ENISA - the European Network and Information Security Agency. BCM & Resilience Glossary)