MIDTERM Flashcards
Is a widely used scientific discipline, based on the identification of a thread, thee Specification of risk and the specifications of hoe to overcome the risk.
RISK THEORY
Has an important position in the field of safety and security. It is focusing on minimization of damage or impact.
RISK MANAGEMENT
Prefers the repressive manner for ensuring the safety or security. It defines for what risk and how the reference object should be prepared.
RISK MANAGEMENT
It is a potential damage or loss of an asset.
RISK
It is the process used by the security professionals in determining his priorities in the protection of assets. The analysis of risk includes examination of the vulnerability, probability and criticality of potential threats and includes natural and man-made risk.
RISK ANALYSIS
It is a rational and orderly approach and a comprehensive solution to the problem identification and probability determination.
RISK ASSESSMENT
The process of selecting and implementing security countermeasures to achieve an acceptable level of risk at an acceptable cost.
RISK MANAGEMENT
Any person, facility, material, information or activity which has a positive value to its owner weather it is an individual, private or government entity.
ASSET
The asset may have value to an adversary, as well as to the owner, although the nature and magnitude of those values may differ.
ASSET
Any weakness that can be exploited by an adversary to gain access to an asset.
VULNERABILITY
An action taken or a physical entity used to reduce or eliminate one or more vulnerabilities.
COUNTERMEASURE
The cost of a possible countermeasures maybe monetary, but may also include non-monetary costs such as; reduced operational efficiency, adverse publicity, unfavorable working conditions and political consequences.
COUNTERMEASURE
The kinds of threats or risks affecting the assets to be safeguarded.
LOSS EVENT PROFILE
The change or likelihood that a loss will take place.
PROBABILITY
Indicated by a mathematical statement concerning the possibility of an event occurring.
PROBABILITY
The impact of a loss as measured in financial terms. How important it is in terms of the survival or existence of the organization.
CRITICALLY
Percentage of Impact: 100% Fatal, 75% Very serious, 50% Average, 25% Less serious, 0% Unimportant.
CRITICALLY UNKNOWN
Eliminating or removing the risk totally from the business, government or industrial environment for which the risk manager has the responsibility.
RISK AVOIDANCE
Decreasing the risk by minimizing the probability of the potential loss. The reduction of the criminal opportunity is often accomplished by situational crime prevention strategies to discourage, deter or deny criminal incidents.
RISK REDUCTION
Spreading the risk through compartmentations or decentralization to limit the impact (critically) of the potential loss.
RISK SPREADING
Moving the financial impact of the potential loss over to an insurance company.
RISK TRANSFER
Planned assumption and acceptance of the potential risk by making a deliberate managerial decision of;
Doing nothing about the threat or
Setting aside resources for use in case of a specific loss incident.
RISK ASSUMPTION
Is an important phenomenon, which has negative influence on human society. The negative effect is a common sign of security breach and crisis.
CRISIS
Is a scientific discipline focused on the theoretic aspects of crisis research, mainly on nature and causes of crisis.
CRISIS THEORY