residual risks are risks that remain in risk register after performing risk response planning . these are broader terms and encompasses secondary risks, accepted risks (that have mitigation plan/contigency plan/fallback plan) and watchlists.
accepted risks are output of risk(threat/opportunity) acceptance . its output of risk response plan and is a subset of residual risks. accepted risks are your "unknowns " and will always have a contigency reserve if its a known unknown (or) a management reserve if its a unknown unknown.
Risks are identified and responses are planned for majority of the risks.
Risks which are left after risk response planning are known as residual risks.
Accepted risk is the risk which is taken for planning and mitigation plan is defined for the same. i.e You are setting up a data enter for a company in place A which is prone to earth quakes and there is risk that earthquake may come and destroy data-centre. So you are building a back-up plan for the same.Active acceptance strategy is used to plan responses.
rsang
Tue, 06/07/2011 - 07:04
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The Risk remained even after
The Risk remained even after mitigation is residual Risk.
Accepted risk is allowable level of acceptance of Risk.
(There is always residual risk remaining)
gk
Tue, 06/07/2011 - 17:47
Permalink
residual risks are risks that
residual risks are risks that remain in risk register after performing risk response planning . these are broader terms and encompasses secondary risks, accepted risks (that have mitigation plan/contigency plan/fallback plan) and watchlists.
accepted risks are output of risk(threat/opportunity) acceptance . its output of risk response plan and is a subset of residual risks. accepted risks are your "unknowns " and will always have a contigency reserve if its a known unknown (or) a management reserve if its a unknown unknown.
Akshay Singh
Mon, 06/27/2011 - 07:58
Permalink
Risks are identified and
Risks are identified and responses are planned for majority of the risks.
Risks which are left after risk response planning are known as residual risks.
Accepted risk is the risk which is taken for planning and mitigation plan is defined for the same. i.e You are setting up a data enter for a company in place A which is prone to earth quakes and there is risk that earthquake may come and destroy data-centre. So you are building a back-up plan for the same.Active acceptance strategy is used to plan responses.
Regards
Akshay Singh
akshay@emensuslearning.com
www.emensuslearning.com