3.6.3 Scenario Planning Flashcards
1
Q
Risk
A
A threat that may prevent or hinder the ability to achieve business objectives.
2
Q
Examples of risk
A
- Natural disaster.
- IT systems failure.
- Loss of key people.
3
Q
Risk Assessment
A
A systematic process of evaluating the potential risks that may be involved in a projected activity.
4
Q
Scenario planning
A
The process of anticipating possible changes in a businesses situation and devising ways to deal with them.
5
Q
Risk Mitigation
A
- Ignore it.
- Reduce probability of risk happening.
- Share risk to a third party.
6
Q
Succession planning
A
Identifying and developing current employees who have the potential to move into key roles in the future.
7
Q
Continuity planning
A
Sets out how a business will operate following a serious incident and how it will return to normal as soon as possible.
1. Carry out a business impact analysis.
2. Recovery plan.
