Risk Management is defined in ISO 31000 as the effect of uncertainty on objectives followed by coordinated and economical application of resources to
- monitor Risk
- control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Risk Management’s objective is to assure uncertainty does not deflect the endeavor from the Entity's goals.
Risk Management's objective is to minimize the probability and the impact of Unfortunate events
More Information#There might be more information for this subject on one of the following:
- IDSA Integration Framework
- Issuer Action Codes
- NIST Privacy Framework
- NISTIR 8062
- Payment Service Provider
- SOC 2
- Unfortunate event
- Web Blog_blogentry_010117_1