Risk Management (MoR) Dictionary of Terms

This is an A-Z glossary of terms, from the Management of Risk (M_o_R). See also dictionaries for Agile Projects, Managing Successful Programmes (MSP) Dictionary, PRINCE2 and ITIL.

A - D - acceptance to Dis-benefit | E - O - Enhancement to output | P - Q - Probability to Quality assurance | R - Realisation to Risk tolerance line | S - T - Senior Responsible Officer to Transfer | Risk - Acronyms

Acronyms BCM to SWOT

BCM

Business continuity management

BCP

Business continuity plan

BCPG

Business Continuity Planning Guide produced by UK government property advisers (now part of OGC)

BIA

Business Impact Analysis

BIR (BCPG)

Business Impact Review

BSI

British Standards Institution

CCTA

Central Computer and Telecommunications Agency, one of the organizations that was merged to form OGC

CEO

Chief Executive Officer

COTS

Commercial Off The Shelf

CRAMM

A risk analysis and management method developed by the UK government to protect IT systems/services

HAZOP

A risk assessment method standing for 'hazard and operability analysis, Risk Registers and databases'

HSE

Health and Safety Executive

IC (BCPG)

Incident Control

ICAEW

Institute of Chartered Accountants of England and Wales

ILGRA

Interdepartmental Liaison Group for Risk Assessment, secretariat provided by HSE

IS

Information System

IT

Information Technology

ITIL®

The OGC IT Infrastructure Library, a set of guides on the management and provision of operational IT services

LCC

Lifecycle Costings

M_o_R®

Management of Risk (the brand name for this guidance)

N/A

Not Applicable

NAO

National Audit Office (UK government body)

OGC

Office of Government Commerce, part of HM Treasury

PERT

Programme Evaluation and Review Technique

PESTLE

Analysis of political, economic, social, technological, legal, environmental factors

PFI

Private Finance Initiative

PPM

Project Profile Model

PRINCE2TM

The standard UK government method for project management that provides a process-based framework for setting up and controlling projects; the acronym stands for 'projects in controlled environments'

PSO

Programme or Project Support Office

RAG status

Flag that can be used to indicate status of the exposure of a risk, the status of which is denoted by colour – red, amber or green

ROCE

Return On Capital Employed

RPA

Risk Potential Assessment

SRO

Senior Responsible Owner

SRP

Summary Risk Profile

SWOT

Analysis of strengths, weaknesses, opportunities and threats within the given situation

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