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Home / Risk Glossary / Risk		12 May, 2008

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Risk (Definition)

(ISO/IEC Guide 73). The combination of the probability of an event and its consequences.
(Business Continuity). The probability that an asset will be harmed due to a specific cause.
(Insurance). An asset which is insured. For example, if you have a life assurance policy and a homeowner's policy, the industry considers you and your house to be risks.

Risk is sometimes separated into pure risk — where the only possibility to be considered is that of loss — and speculative risk — where there is a possibility of gain as well as loss. From a business perspective, these distinctions are rarely useful since running a business (and all the risks that are involved) are speculative risks.

How far away should a hot site or mirror site be?
A question that is often asked when designing a disaster recovery plan is how far away a hot site or mirror site should be. Is there a simple answer? (More...)

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