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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