ABSTRACT

The uncertainty assessment process depends on the definition of criteria that will be used to provide terms of reference against which the significance of an opportunity or threat is evaluated. Stakeholder engagement is a key supporting activity for all parts of the risk assessment and sustainability program. Uncertainty identification is important to link the factors and the specific sources of the opportunities and threats, along with their consequences. Uncertainty analysis helps the organization make decisions regarding its options to deal with different types and levels of uncertainty and its effect on the level of risk. The purpose of uncertainty evaluation is to assist in making decisions on the uncertainty response based on the outcomes of the uncertainty analysis. An uncertainty management plan provides a high-level model for how an organization should embed risk management into all its activities. In an organization's system of management, context refers to an understanding of the internal and external context of the organization.