Search results
Results From The WOW.Com Content Network
Enterprise risk management. Enterprise risk management ( ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant ...
Project risk is defined by the Project Management Institute (PMI) as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives." [ 1] Within disciplines such as operational risk, financial risk and underwriting risk management, the concepts of risk, risk management and individual risks ...
Risk management. Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. [ 1]
ISO 31000. ISO 31000 is a family of international standards relating to risk management codified by the International Organization for Standardization. [ 1] The standard is intended to provide a consistent vocabulary and methodology for assessing and managing risk, resolving the historic ambiguities and differences in the ways risk are described.
Risk matrix. A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of likelihood (often confused with one of its possible quantitative metrics, i.e. the probability) against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist ...
Information security management ( ISM) defines and manages controls that an organization needs to implement to ensure that it is sensibly protecting the confidentiality, availability, and integrity of assets from threats and vulnerabilities. The core of ISM includes information risk management, a process that involves the assessment of the ...
Risk compensation. Skydiver Bill Booth 's second rule states that "The safer skydiving gear becomes, the more chances skydivers will take, in order to keep the fatality rate constant." [1] Risk compensation is a theory which suggests that people typically adjust their behavior in response to perceived levels of risk, becoming more careful where ...
Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]