... the terms residual risk and acceptable risk. Residual risk is defined in the standard as the risk remaining after risk reduction measures (protective measures) are taken. Acceptable risk is defined within the standard as a risk level achieved after risk reduction measures have been applied...

... to assess the elements of risk. Some documents use different terms to describe these general ideas, such as consequence instead of severity. Different approaches analyze these elements to greater or lesser levels of complexity. Assessing risk occurs both before and after risk reduction measures...