Risk Analysis
| 1. Risk Analysis is the process to identify the risks to an organization; to define the controls in place so as to reduce organization exposure; and to evaluate the cost for the controls to be implemented.
Related Terms: Risk Analysis and Review, Risk Assessment. Note: Risk Analysis often involves a systematic use of information to identify sources and to estimate the risk. It provides a basis for risk evaluation and its risk treatment.
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(Source: Business Continuity Management Institute - BCM Institute) |
2. Risk Analysis is the process of identifying the risks to an organization, assessing the critical functions necessary for an organization to continue business operations, defining the controls in place to reduce organization exposure and evaluating the cost for such controls. Risk analysis often involves an evaluation of the probabilities (likelihood) of a particular event.
(Source: Disaster Recovery Institute International / Disaster Recovery Journal - DRII/DRJ)
3. The identification and assessment of the level(measure)of the risks calculated from the assesses values of assets and the assessed levels of threats to,and vulnerabilities of,those assets.
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(Source: OGC, Information Technology Infrastructure Library (ITIL) v3) |
4. Determination of the likelihood and impact of each risk occurring. Risk Analysis provides the basis for risk evaluation, risk treatment and risk acceptance.
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(Source: ENISA - the European Network and Information Security Agency. BCM & Resilience Glossary) |
