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Risk Criteria

1. Risk Criteria is the terms of reference (standards, measures, or expectations) used in making a judgement or a decision on the significance of risk to be assessed.

Risk Criteria may include:

  • associated cost and benefits
  • legal and statutory requirements
  • the concerns of stakeholders


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




BCMBoK Competency Level
BCMBoK 2: Risk Analysis & Review CL 4: Intermediate (DR)

(Source: Business Continuity Management Institute - BCM Institute)


2. Terms of reference against which the significance of a risk (Clause 3.19) is evaluated.

NOTES:

  • Risk criteria are based on internal and external context, and are regularly reviewed to ensure

continued relevance.

  • Risk criteria can be derived from standards, laws and policies.

(Source: AS/NZS 5050.1 Australian and New Zealand Standards for business continuity management.

Part 1: Business continuity management system specification)

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