What is that portion of identified risk that is allowed to persist during the mission or task called?

The term that refers to the portion of identified risk that is allowed to persist during a mission or task is commonly known as residual risk. Residual risk represents the risk that remains after risk management efforts have been applied, such as implementing controls or mitigation strategies. It acknowledges that it may not be possible or practical to eliminate all risks in an operational environment.

Acceptable risk, on the other hand, specifically defines the level of risk that an organization is willing to accept in pursuit of its objectives. While acceptable risk may align with the concept of residual risk, it does not fully capture the essence of what remains after all risk mitigation strategies have been applied.

Understanding residual risk is critical in operational risk management because it helps organizations recognize and prioritize the risks that remain post-mitigation, enabling informed decision-making about what risks they are willing to tolerate while carrying out their mission or tasks.

Therefore, the correct understanding should focus on the concept of residual risk as the terminology that most accurately describes what happens to identified risks after mitigation efforts, rather than simply labeling acceptable risk as the portion that persists.