Residual risk

As a RAMS approver,

I want to, have a residual risk factor (eg. High, Medium or Low)

so that I can approve a Risk and select correct precautions.

What is residual risk and why is it important?

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. This means that residual risk is something organizations might need to live with based on choices they've made regarding mitigation.