HRM-MEAS-16Term
Avoided loss
The estimated cost of incidents that did not occur because measured risk fell, computed from incident lift, the organization’s own incident costs and the change in exposed population. Assumptions are published with the number.
Example
A CFO reads the avoided-loss estimate with its three inputs and asks for the incident cost source.
Related terms
3"Avoided loss" (HRM-MEAS-16), Human Risk Management Framework v2.0.0, Living Security, CC BY 4.0. https://www.humanriskmanagement.com/taxonomy/terms/avoided-loss
Part of the open HRM Taxonomy, CC BY 4.0. Download the taxonomy as JSON · What's new in 2.0.
The initial assessment
Find your level.Then fix what matters.
18 questions, about 4 minutes and nothing to type before the result: your level, a score for each practice and three first playbooks, each Easy, Medium or Hard.