Difference between revisions of "Risk Acceptance"
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| '''1.''' Risk Acceptance is to make an informed decision to accept the [[Risk_Likelihood|likelihood]] and [[Risk_Impact|impact]] of a particular [[Risk|risk]]. Risk Acceptance depends on [[Risk_Criteria|risk criteria]] and the [[Risk_Appetite|risk appetite]] of [[Executive_Management|Top Management]]. <div class="thumb tright"> | | '''1.''' Risk Acceptance is to make an informed decision to accept the [[Risk_Likelihood|likelihood]] and [[Risk_Impact|impact]] of a particular [[Risk|risk]]. Risk Acceptance depends on [[Risk_Criteria|risk criteria]] and the [[Risk_Appetite|risk appetite]] of [[Executive_Management|Top Management]]. <div class="thumb tright"> | ||
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Related Terms: [[Risk_Treatment|Risk Treatment]], [[Risk_Tolerance|Risk Tolerance]], [[Residual_Risk|Residual Risk]]. | Related Terms: [[Risk_Treatment|Risk Treatment]], [[Risk_Tolerance|Risk Tolerance]], [[Residual_Risk|Residual Risk]]. | ||
Revision as of 11:48, 5 April 2019
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. Related Terms: Risk Treatment, Risk Tolerance, Residual Risk.
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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
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)