The Open Group Risk Definitions
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The Problem


In The Open Group, as well as more broadly in the business community, the ERM world, and the IT security community, the term “Risk” is defined in various ways. The various definitions are often inconsistent, and the practitioners in each area have a different context for what risk is, and for what their roles are with respect to risk.


This project intends to describe the various definitions, examining the differences between the definitions, the context in which they are used, and the perspectives that various practitioners have based upon their organizational role as it relates to risk.

 
Objectives
  1. To offer up in a single document various definitions for risk, including from Open Group standards (notably O-RT, O-ESA, TOGAF, and the recently published whitepaper on risk & security in a TOGAF Enterprise Architecture, most of which define risk differently), from ISO (where ISO31000 and ISO27005 have inconsistent definitions of risk) and other standards, and dictionary definitions.
  2. To try and “connect the dots” between the various risk definitions. There is a view that some definitions of risk (those which view risk as involving only negative consequences of uncertainty) might possibly be viewed as subsets of the way in which ISO 31000 defines risk, for example.
  3. To describe how (and why) various communities of business users presently use these various definitions.
  4. Developing a new standard Open Group definition for risk is explicitly out of scope for this project.
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