BUSINESS CONTINUITY MANAGEMENT

A coordinated approach to preparing for, managing through and recovering from a major operational disruption.  Good practice BCM programs are integrated with other stakeholder groups, such as Emergency Response, Crisis Management and IT-Disaster Recovery

BUSINESS CONTINUITY PLAN

A formal document or set of documents that provide guidance of how a business is to recover from a catastrophic events.  A BCP can be high level or extremely detailed depending on the organization’s specific needs.

CORPORATE SECURITY PLAN

A formal document that outlines the processes and procedures to prevent and/or manage day-to-day events that could threaten personnel, facilities and other assets of an organization

CRISIS

A major event that, either through sudden onset or through a slow progression, escalates into a situation that have the potential to adversely impacts a company’s brand and reputation in the market/community

CRISIS MANAGEMENT PLAN

A formal document that provides guidance and procedures for how senior leaders should manage major events that could adversely impact an organization’s brand, reputation and/or share price (publicly traded organizations)

DISASTER RECOVERY PLAN

A formal plan or set of plans that outlines the processes and procedures required to recover information technology applications, systems, infrastructure or telecoms following a major IT disruption

EMERGENCY RESPONSE PLAN (ALSO KNOWN AS AN INCIDENT RESPONSE PLAN)

A formal document that outlines the processes and procedures to respond to incidents that have the potential to disrupt operations.  Emergency events may or may not require escalation to a point that requires a crisis management and/or business continuity response.

INDEMNITY

A term typically used in the risk section of contracts that specifies the expectations regarding the potential  liability of contracting parties in the event of a claim.

INFORMATION TECHNOLOGY RESILIENCE

(IT-R) The ability of an organization or company to respond to, manage through and recovery from a major IT event that could otherwise destroy or severely impact the organization without appropriate mitigations

OPERATIONAL RISK MANAGEMENT

An organizational approach to managing the risks associated with the loss of personnel, assets, infrastructure, and suppliers.  Although specific threats are considered, operational risks focuses on the potential impact on the business in order to prioritize decisions

RESILIENCE

The ability of an organization or company to respond to, manage through and recovery from a major event that could otherwise destroy the organization without appropriate mitigations

RISK APPETITE

The degree to which an organization's management is willing to accept a certain level of risks associated with its business operations rather than treat it through risk financing, transfer and/or other mitigation techniques.