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The A to Z of risk terminology – ‘E’

Effectiveness - relative ability of the Risk Management, control and governance processes and environment to prevent, detect or recover from an Event or Incident

Emerging Risk - changing context of identified risks. Frequently used to describe previously unidentified or unallocated risks, with potential to develop into material threats to organisational objectives

Enhancing Control - control that increases the Probability of delivering on Opportunity Risks

Enterprise Risk - risks that have potential to affect the organisation as a whole and could cause fundamental changes in the way it operates as a business

Event - occurrence of a particular set of circumstances (see also Incident)

Executive Leadership Team (XLT) - team comprising of direct reports to, and the Chief Executive Officer

External Context - external environment in which The organisation’s seeks to achieve its objectives. Includes:

cultural, social, political, legal, regulatory, financial, technological, economic, natural, and competitive environment, whether international, national, regional, or local, key drivers and trends having impact on the objectives, relationships with, and perceptions and values of external stakeholders

(See also Internal Context)


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