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What does mean residual risk?

What does mean residual risk?

Planning Risk Management Project Management
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Question added by Javad Taghavi , Program Manager, Senior Adviser in Project Management , KCE Co.
Date Posted: 2017/04/10
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dwi nugroho
by dwi nugroho , Contractor Safety Management Officer , CHEVRON

risk that still exist in the activities after all control/ mitigations had been defined

Nuha Awad Osman Osman
by Nuha Awad Osman Osman , Program Quality Coordinator , World Vision

Residual risk is the risk that remains after a risk control measures are taken into considerations and applied. At this point, Residual risk will be calculated as follows:

Residual Risk=Cost*Threat*Vulnerability

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