BCM BOK2

[blank_start]Residual Risk[blank_end] is the [blank_start]remaining[blank_end] risk which cannot be defined in more detail after elimination or inclusion of all conceivable quantified risks in a risk consideration. Residual risk is the level of uncontrolled risk remaining after the risk treatment.

[blank_start]Risk Acceptance[blank_end] is to make an informed decision to accept the [blank_start]likelihood[blank_end] and [blank_start]impact[blank_end] of a particular risk. Risk Acceptance depends on risk criteria and the risk appetite of Top Management.

[blank_start]Key Planing Scenario (KPS)[blank_end] provides the [blank_start]BC Team[blank_end] with a perspective of the [blank_start]magnitude[blank_end] of disaster that an organization is willing to commit the [blank_start]resources[blank_end] to mitigate and is acceptable to the organisation. This organisation includes the Executive Management, Organization BCM Coordinator, BCP team, DRP team and the Crisis Management Team.

A Man-made Threat is an event resulting from [blank_start]human intent[blank_end], negligence, or error. It is divided into into two category: [blank_start]human[blank_end] or [blank_start]technology[blank_end].

[blank_start]Natural Threat[blank_end] is a threat resulting from the effect of [blank_start]nature[blank_end] that may cause a disruptive [blank_start]impact[blank_end] to an organization.

[blank_start]Period of Disruption[blank_end] is the expected [blank_start]residual[blank_end] disruption resulting from each identified threats, taking into consideration existing controls. The period of disruption is an estimated duration during which the organization’s operations are disrupted ([blank_start]operationally[blank_end]), or access to the primary location is denied ([blank_start]infrastructure[blank_end]).

A [blank_start]Threat[blank_end] is an indication or warning of probable man-made or natural situation that can cause [blank_start]disruption[blank_end] to an organization’s operations or services.

The disruption caused by the occurrence of the [blank_start]threat[blank_end]. It can be operational in nature, causing disruption to the [blank_start]functionality[blank_end] of the organization, or infrastructure in nature which will deny access to or usage of the primary [blank_start]location[blank_end].

[blank_start]Worst Case Scenario[blank_end] is the worst possible [blank_start]condition[blank_end] or outcome out of the several [blank_start]possibilities[blank_end] in planning for a [blank_start]disaster[blank_end].

[blank_start]Risk Analysis[blank_end] is the process to evaluate and determine the risk rating, which is the product of [blank_start]risk likelihood[blank_end] and [blank_start]risk impact[blank_end].

[blank_start]Risk Appetite[blank_end] is amount and the type of risks that an organization is willing to take in or absorb.

[blank_start]Risk Assessment[blank_end] is the overall process of [blank_start]risk identification[blank_end], [blank_start]risk analysis[blank_end] and risk evaluation.

[blank_start]Risk Avoidance[blank_end] is to make an informed decision not to become involved in or to withdraw from a risk situation.

[blank_start]Risk Evaluation[blank_end] is the process used to compare the estimated risk against the given risk criteria so as to determine the significance of the risk.

[blank_start]Risk Impact[blank_end] is an outcome resulting from a threat that will impact an organization objectives or assets.

[blank_start]Risk Level[blank_end] is the overall level of assessed risk to the risk rating.

[blank_start]Risk Likelihood[blank_end] is the state of being probable or chance of a threat occurring.

[blank_start]Risk Mitigation[blank_end] is to implement measures so as to lower the exposure to the risk.

[blank_start]Risk Rating[blank_end] is the result of the multiplication of the assigned value for Risk Likelihood against the assigned value of [blank_start]Risk Impact[blank_end].

[blank_start]Risk Reduction[blank_end] is to take appropriate actions to lessen the likelihood, negative consequences or both, associated with a risk.

[blank_start]Risk Tolerance[blank_end] is the amount if risk that an organization is willing to accept or be exposed to.

[blank_start]Risk Transference[blank_end] refers to the shifting of the burden of loss for a risk to another party through legislation, contract, insurance or other means.

[blank_start]Risk Treatment[blank_end] is the selection and implementation of appropriate options for dealing with risk.

A [blank_start]Crisis Event[blank_end] is an event (or occurrences that happen over a period of time) leading up to the crisis can pertain to people or human resources.

A [blank_start]Crisis Scenario[blank_end] describes a situation that might disrupt the business.

[blank_start]Impact[blank_end] is an evaluated consequence of a particular effect due to the cause, such as a threat.

[blank_start]Hazard[blank_end] is potential harm or damage, or a situation which poses a level of threat to life, health, property or environment.

What is the biggest benefit of a successfuly Risk Analysis and Review phase

Which of the following is NOT the responsibility of the an organization's BCM Coordinator during the Business Impact Analysis phase