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Residual Risk: Any business venture carries risk. Most inherent risk can be identified and mitigated through the implementation of countermeasures -- but no countermeasure can completely eliminate risk. Residual risk is the amount of risk that remains once countermeasures are in place. This level of risk is hard to calculate accurately, because much of it involves unforeseen events. However, it is possible to estimate the level of residual risk and determine whether it falls within acceptable limits. Doing so may help to decrease the likelihood of a catastrophic incident and further mitigate loss should such an incident occur.
Take example for: Recruited expertise candidates mass withdrawal at work due to external influences.
a residual risk is a portion of the risk that is left after a risk assessment has been conducted. For example, I can buy a car insurance to transfer the risk but still there could be an issue with the insurance company itself to cover the car repairs while having an accident.
