BCMBoK 2: Risk Analysis & Review
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- Assess risk for organization specific for BCM.
- Understand the principles of risk assessment.
- Devise an appropriate scoring mechanism.
- Identify the types of internal and external threats that could cause a disruption and assess their probability and impact.
- Evaluate and prioritize threats.
- Determine risk treatment.
- Formulate risk treatment strategy.
- Evaluate risk minimization alternatives against specifications and cost constraints.
- Review current operational procedures to ensure adequate risk safeguards and plans are in place.
- Submit risk treatment strategy to executive management for approval.
Related Terms: Risk Analysis and Review.