What is the meaning of residual risk?
Residual risk is the risk that remains after efforts to identify and eliminate some or all types of risk have been made. Residual risk is important for several reasons. First to consider is that residual risk is the risk "left over" after security controls and process improvements have been applied.
What is residual risk in workplace?
Residual risk – the risk still remaining after the implementation of control measures. In the case of effective controls the residual risk is always lower than the pre-controlled risk. In university workplaces controls should be introduced or improved until the residual risk is negligible/not significant.
How do you identify residual risk?
- remaining after most of something has gone. Cambridge Dictionary Residual. Residual risk is the remaining risk after your control measures are in place. There will always be some level of residual risk, but it should be as low as reasonably practicable. As in, as low as you can reasonably be expected to make it.
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