Answer: To determine whether the risk of an adverse event occurring is reduced enough that the benefits of completing the mission outweigh the risks
Using the hierarchical Risk Breakdown Structure. The RBS serves as more than just a “database” for identifying risks to the project. When created the RBS provides a vehicle for risk analysis and reporting and risk comparison across projects . Most importantly the RBS is …
Requirements management is the process of documenting analyzing tracing prioritizing and agreeing on requirements and then controlling change and communicating to relevant stakeholders. It is a continuous process throughout a project. A requirement is a capability to which a project outcome (product or service) should conform.
The term operational risk management (ORM) is defined as a continual cyclic process which includes risk assessment risk decision making and implementation of risk controls which results in acceptance mitigation or avoidance of risk .ORM is the oversight of operational risk including the risk of loss resulting from inadequate or failed internal processes and systems; human factors; or …
Risk management is the identification evaluation and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize monitor and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Definitions. The Certified Information Systems Auditor Review Manual 2006 produced by ISACA an international professional association focused on IT Governance provides the following definition of risk management: ” Risk management is the process of identifying vulnerabilities and threats to the information resources used by an organization in achieving business objectives and deciding what …
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