Difference between revisions of "Risk Acceptance"
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'''2.''' Decision to accept risk. | '''2.''' Decision to accept risk. | ||
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'''''Notes (1)''''' : The verb “to accept” is chosen to convey the idea that acceptance has its basic dictionary meaning. | '''''Notes (1)''''' : The verb “to accept” is chosen to convey the idea that acceptance has its basic dictionary meaning. | ||
Revision as of 07:41, 28 December 2015
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)