A Few Thoughts Re: Risk Assessment – Defining An “Acceptable Level” of Risk

Reblogged from Soltis Consulting:

Click to visit the original postGood Morning -Recently, a colleague of mine presented the following question with respect to Risk Management:

“How would you define an “acceptable” level of risk?”

For those individuals interested in this field of study, I thought the below listed explanations and sources of reference content might be helpful.

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An acceptable level of risk (sometimes referred to as “Risk Acceptance”) occurs where the organizational management ascertains and determines that the control measures in place are sufficient to address the identified risks (of course, being dependent on the available resources).

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Am pleased to have made the acquaintance of Joe Soltis of Soltis Consulting today. I recommend you follow his blog and engage in the concepts he introduces. Stimulating and value-added.

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