What is the term used for risk that remains after a new control has been implemented?

The term for the risk that remains after implementing a new control is known as residual risk. This concept is important in the context of risk management, particularly in healthcare privacy and security, where organizations continuously strive to mitigate risks associated with sensitive data.

When a new control measure, such as a security protocol or policy, is put in place to address specific vulnerabilities, there may still be some level of risk that cannot be entirely eliminated due to various factors, such as the ever-evolving nature of threats, limitations of the control itself, or the cost of further risk reduction measures. This remaining risk is classified as residual risk, and organizations must assess and manage it to ensure they are comfortable with the level of risk they are accepting.

Inherent risk, on the other hand, refers to the level of risk that exists before any controls are implemented, while control risk pertains to the risk that the controls themselves may fail or be inadequate. Acceptable risk is the level of risk that an organization is willing to take after considering costs and benefits. Understanding the distinction between these terms is crucial for effective risk management in the healthcare sector.