Risk Management
Contents
Definitions
European Definitions
Other International Definitions
NATO CEP / EAPC
UNISDR
According to UNISDR, risk management comprises risk assessment and analysis, and the implementation of strategies and specific actions to control, reduce and transfer risks. It is widely practiced by organizations to minimise risk in investment decisions and to address operational risks such as those of business disruption, production failure, environmental damage, social impacts and damage from fire and natural hazards. Risk management is a core issue for sectors such as water supply, energy and agriculture whose production is directly affected by extremes of weather and climate.
National Definitions
Germany
USA
Standard Definition
ISO/IEC 27000:2014
The standard defines risk management as
Risk management process is the systematic application of management policies, procedures and practices to the activities of communicating, consulting, establishing the context and identifying, analysing, evaluating, treating, monitoring and reviewing risk[6] (based on the ISO Guide 73:2009[7]). ISO/IEC 27005 uses the term ‘process’ to describe risk management overall. The elements within the risk management process are termed ‘activities’.
See also
- Disaster Risk
- Risk Analysis
- Risk Assessment
- Risk Identification
- Risk Transfer
- Risk Treatment
- Risk Mitigation
Notes
- ↑ European Commission's CBRN Glossary, 2012
- ↑ [NATO EAPC(SCEPC) lexicon.]
- ↑ 2009 UNISDR Terminology on Disaster Risk Reduction
- ↑ http://www.kritis.bund.de/SharedDocs/Downloads/Kritis/EN/Baseline%20Protection%20Concept.pdf Protection of Critical Infrastructures – Baseline Protection Concept: Recommendation for Companies, BMI.
- ↑ DHS Risk Lexicon 2010 Edition, September 2010
- ↑ 6.0 6.1 ISO/IEC 27000:2014, Information technology -- Security techniques -- Information security management systems -- Overview and vocabulary
- ↑ 7.0 7.1 ISO Guide 73:2009 Risk management -- Vocabulary