To recognize desirable conduct; and encourage similar conduct in the future.
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Respond
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.
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Planned Performance
Is the level of reward that the organization expects to gain once planned actions and controls are operating.
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Performance Management
Is the act of managing processes and resources to pursue reward while also addressing risk
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Performance Culture
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…
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Orchestrate
The ways and means of governance, performance, risk, control and compliance capabilities
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Opportunity
Is an event that has, on balance, a desirable effect on achieving objectives.
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Likelihood
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…
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Objective
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
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Impact
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…
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Uncertainty
The state of being unable to completely predict; determine; or define something. Additional Definitions From Well-Known Sources
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