Definitions Of Risk Management On The Web:

Definitions of Risk Management on the Web: The total process to identify, control, and minimize the impact of uncertain events. The objective of the risk management program is to reduce risk and obtain and maintain DAA (Designated Approving Authority) approval. www.tsl.state.tx.us/ld/pubs/compsecurity/glossary.html Risk management is the decision-making process involving considerations of political, social, economic and engineering factors with relevant risk assessments relating to a potential hazard so as to develop, analyse and compare regulatory options and to select the optimal regulatory response for safety from that hazard. Essentially risk management is the combination of three steps: risk evaluation; emission and exposure control; risk monitoring. www.bio.hw.ac.uk/edintox/glossall.htm 1) Deliberate process of understanding risk and deciding upon and implementing actions to reduce risk to a defined level. Characterized by identifying, measuring, and controlling risks to a level commensurate with an assigned value. 2) The identification, assessment, and mitigation of probabilistic security events (risks) in information systems to a level commensurate with the value of the assets protected. www.ciao.gov/ciao_document_library/glossary/R.htm Management of the pure risks to which a company might be subject. It involves analyzing all exposures to the possibility of loss and determining how to handle these exposures through such practices as avoiding the risk, reducing the risk, retaining the risk, or transferring the risk, usually by insurance. (G) www.insweb.com/learningcenter/glossary/general-r.htm The total process of identifying, controlling, and eliminating or minimizing uncertain events that may affect system resources. It includes risk analysis, cost benefit analysis, selection, implementation and test, security evaluation of safeguards, and overall security review. [8] www.ee.oulu.fi/research/ouspg/sage/glossary/ Once the risks attaching to a particular project option have been identified, risk management attempts to lessen their effects. It does this by applying a range of management techniques. For example, it might be possible to take out insurance, to re-plan the project, to carry out further research or implement the project on a pilot basis, or allowance could be made in the budget in the form of contingencies. www.dfid.gov.uk/aboutdfid/files/glossary_r.htm The process of evaluating and selecting alternative regulatory and non-regulatory responses to risk. The selection process necessarily requires the consideration of legal, economic, and behavioral factors. www.state.ak.us/dec/dspar/csites/glossary.htm A decision-making process that entails consideration of political, social, economic, and engineering information with risk-assessment information to develop, analyze, and compare regulatory options and to select the appropriate regulatory response to a potential health risk. www.nbc-med.org/SiteContent/glossary.asp The process of identifying and evaluating risks and selecting and managing techniques to adapt to risk exposures. www.bloomberg.com/money/tools/bfglosr.html

The identification and acceptance or offsetting of the risks threatening the profitability or existence of an organisation. With respect to foreign exchange involves among others consideration of market, sovereign, country, transfer, delivery, credit, and counterparty risk. www.gftforex.com/resources/glossary.asp is a consideration of the social, economic, and political factors involved in risk analysis to determine both the acceptability of damage that could result from an event or exposure and what, if any, action should be taken with regard to the risk of that damage. www.rff.org/glossary.htm Risk is the possibility of something adverse happening. Risk management is the process of assessing risk, taking steps to reduce risk to an acceptable level and maintaining that level of risk. (NIST Pub. 800-14). Part of the security management process on the matrix. www.hipaabasics.com/glossary.htm The process of evaluating alternative regulatory and non-regulatory responses to risk and selecting among them. The selection process necessarily requires the consideration of legal, economic and social factors. www.lrb.usace.army.mil/fusrap/glossary-r.htm the systematic application of management policies, procedures and practices to the tasks of identifying, analysing, evaluating, treating and monitoring risk. www.anta.gov.au/glortot.asp An organized means of controlling the risk on a project. Risk Mitigation – The process of reducing either the likelihood or the severity of a risk because the benefits from assuming the risk do not outweigh the perceived risk. www.northropgrummanit.com/set/glossary.html The managerial, decision-making and active hazard control process to deal with those environmental agents for which risk evaluation has indicated that the risk is too high. www.pestmanagement.co.uk/library/glossqr2.html A systematic approach used to identify, evaluate, and reduce or eliminate the possibility of an unfavorable deviation from the expected outcome of medical treatment, and thus prevent the injury of patients due to negligence and the loss of financial assets resulting from such injury. www.thedoctors.com/glossary/glossaryR.asp Risk management is the ongoing process of assessing the risk to automated information resources. It is part of a risk-based approach used to determine adequate security for a system by analyzing the threats and vulnerabilities and selecting appropriate cost-effective controls to achieve and maintain an acceptable level of risk. extranet.sfa.ed.gov/sfa_university/training/f2botw/dictionary_r.html The selection and implementation of a strategy of control of risk, followed by monitoring and evaluation of the effectiveness of that strategy. It may include direct remedial actions or other strategies that reduce the probability, intensity, frequency or duration of the exposure to contamination. www.tbs-sct.gc.ca/dfrp-rbif/cs-sc/definitions.asp Decisions to accept exposure or to reduce vulnerabilities by either mitigating the risks or applying cost effective controls. www.utmb.edu/is/security/glossary.htm

The process of evaluating and selecting action alternatives in response to risk assessment findings. www.epa.gov/watertrain/ecorisk/glossary.html An organized process to identify what can go wrong, to quantify and access associated risks, and to implement/control the appropriate approach for preventing or handling each risk identified. sparc.airtime.co.uk/users/wysywig/gloss.htm The process of deciding which action to take when a risk assessment indicates that a danger of loss exists. Risk management includes a range of actions (e.g., prevention, mitigation, preparedness, recovery) that are designed to mitigate an increasing risk of natural and technological hazards; decrease a risk to existing levels; and plan ways to respond to natural and technological hazards as well as catastrophic events. (Landesman definition). www.ben.edu/semp/htmlpages/glossaryr1.html An event, factor or action that may cause harm or loss; a hazard; a project planning step in which these possibilities are identified and prioritized in terms of probability and impact. The risk identification step is followed by a "what if" analysis and recommended contingency plans. www.uh.edu/fast/FAST-glossary.htm The total process of identifying, controlling, and eliminating or minimizing uncertain events that may affect system resources. It includes risk analysis, cost-risk analysis, selection, implementation and test, security evaluation of safeguards, and overall security review. www.itsecurity.com/rs.htm

Risk management is the systematic process of managing an organization's risk exposures to achieve its objectives in a manner consistent with public interest, human safety, environmental factors, and the law. It consists of the planning, organizing, leading, coordinating, and controlling activities undertaken with the intent of providing an efficient pre-loss plan that minimizes the adverse impact of risk on the organization's resources, earnings, and cash flows.