Risk Tolerance
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Contents
Definitions
European Definitions
Other International Definitions
ITU-T
Risk tolerance means the degree of exposure to security risk acceptable to policy makers/business owners. [1]
National Definitions
Canada
The willingness of an organization to accept or reject a given level of residual risk. [2]
Note: Risk tolerance may differ across an organization, but must be clearly understood by those making risk-related decisions.
Kingdom of Saudi Arabia
Risk tolerance: The acceptable variation relative to performance to the achievement of objectives. [3]
Philippines
Risk Tolerance:
(a) The level of risk an entity is willing to assume in order to achieve a potential desired result;
(b) The defined impacts to an enterprise‘s information systems that an entity is willing to accept. [4]
(a) The level of risk an entity is willing to assume in order to achieve a potential desired result;
(b) The defined impacts to an enterprise‘s information systems that an entity is willing to accept. [4]
United States
NIST
The level of risk an entity is willing to assume in order to achieve a potential desired result. [5]
US-CERT
Risk Tolerance: Thresholds that reflect the organization’s level of risk aversion by providing levels of acceptable risk in each operational risk category that the organization has established. [6]
Standard Definition
ISO Guide 73:2009(en)
Organization's or stakeholder's readiness to bear the risk after risk treatment in order to achieve its objectives [7]
Academic Definitions
Note: the concept of risk tolerance is linked to the concept of Risk Perception.
Dictionary
Risicobereidheid: De hoeveelheid en het soort risico dat een organisatie bereid is. [9]
See also
Notes
References
- ↑ ITU Study Group Q.22/1 Report on Best Practices for a National Approach to Cybersecurity: A Management Framework for Organizing National Cybersecurity Efforts, ITU-D Secretariat, Geneva (2008).
- ↑ All Hazards Risk Assessment Methodology Guidelines 2012-2013, Public Safety Canada
- ↑ Cyber Security Framework Saudi Arabian Monetary Authority Version 1.0 May 2017
- ↑ DND GLOSSARY OF CYBER SECURITY TERMS (v.4)
- ↑ NISTIR 7298 rev 2: Glossary of Key Information Security Terms, May 2013
- ↑ Cyber Resilience Review (CRR): Method Description and Self-Assessment User Guide (2016)
- ↑ ISO Guide 73:2009 Risk management -- Vocabulary
- ↑ Campbell Institute (2014). Risk perception: Theories, strategies and next steps.
- ↑ Cybersecurity Woordenboek 2021
