To recognize desirable conduct; and encourage similar conduct in the future.
Desirable conditions and events with rewards; and correct undesirable conditions and events so that the organization recovers from and resolves each immediate issue and improves future performance.
Is the level of reward that the organization expects to gain once planned actions and controls are operating.
Is the act of managing processes and resources to pursue reward while also addressing risk
Includes the values, beliefs and behaviors about the governance, assurance and management of performance including: setting objectives and indicators of performance; enabling and evaluating performance; and how individual and team Full Article…
The ways and means of governance, performance, risk, control and compliance capabilities
Is an event that has, on balance, a desirable effect on achieving objectives.
states what the organization will achieve
A measure of the chance of an event occurring. Usage Notes Quantitatively, likelihood is typically expressed as either: Probability Likelihood (Mathematical) Qualitatively, likelihood is typically expressed using an Ordinal Scale (high, medium, low). Be careful Full Article…
Something that an entity intends to attain or accomplish. Usage Notes To be measurable, objectives must be mapped to indicators, targets and tolerances. Synonyms Purpose Goal
A measure of how an entity or its objectives are affected. Usage Notes Quantitatively, impact is often expressed as: positive/negative affect on financial assets positive/negative affect on other tangible assets (facilities, Full Article…
The state of being unable to completely predict; determine; or define something. Additional Definitions From Well-Known Sources