Risk Acceptance vs Risk Tolerance. WorkLifeCyber скачать в хорошем качестве

Risk Acceptance vs Risk Tolerance. WorkLifeCyber

#tprm #cybersecurity #riskmanagement Risk acceptance and risk tolerance are related concepts in risk management, but they have distinct meanings and implications. Here's an explanation of each with examples: Risk Acceptance: Risk acceptance refers to a deliberate decision by an organization or individual to acknowledge a specific risk and decide to proceed without taking further action to mitigate or avoid that risk. This typically occurs when the potential benefits or the cost of risk mitigation measures outweigh the potential negative consequences of the risk. Example: An organization decides to accept the risk of a product launch delay due to a supplier's unreliability because the potential financial loss from delaying the launch is deemed less harmful than finding a new supplier. Risk Tolerance: Risk tolerance is the predetermined level of risk that an organization or individual is willing to accept within a particular activity, project, or portfolio. It sets boundaries for how much risk is considered acceptable. It helps in making decisions about risk mitigation measures and informs risk management strategies. Example: An investment portfolio manager may establish a risk tolerance level of a 10% loss in a given year. This means they are willing to accept portfolio fluctuations within that limit, and any higher losses would trigger adjustments to stay within that tolerance. In summary, risk acceptance is a specific decision to knowingly embrace a risk, while risk tolerance is a predefined limit that guides decisions regarding risk management. Organizations and individuals use these concepts to align their risk management strategies with their overall objectives and risk appetite. If you have enjoyed this video, please like, subscribe and share. It will be nice to build a community of helpers. UCOt7B_nIciV2dMy5uHenSOQ WHAT TO WATCH NEXT A Few Areas in Tech Worth Considering:    • How to Avoid First Day At Work Awkwardness...   How To Secure Your Home Network:    • How To Secure Your Home Network | Protect ...   Pass ISC2 Certified in Cyber Security for Free    • How I Pass ISC2 Certified in Cybersecurity...   Free Cyber Security Certification    • Free Certification in Cybersecurity. An IS...   Inherent Risk vs Residual Risk    • Inherent Risk vs Residual Risk.   Have questions about GRC? Watch this:    • GRC   Bored? Binge on these    • TPRM Binge Worthy   Connect with me: worklifecyber Email: worklifecyber@gmail.com About channel: A few years ago I made a decision to switch careers. From accounting to tech! Best career decision I have ever made. It didn’t come easy but the love I developed for the field made me press on. What I realized was that it was difficult because I had no direction. I spent a lot of time reading everything and confusing myself. A friend of mine (J) freely mentored me and pushed me to do more. This channel was created in honor of her. I wanted go reach as many people as possible in a very effective way. Please make yourself comfortable and learn. I believe your goal of getting into tech is achievable just by simply wanting it. Want it enough to go for it.