What term describes the risk that is permitted to exist during a mission or task?

The term that describes the risk permitted to exist during a mission or task is "Acceptable Risk." This concept is fundamental in risk management, particularly within the context of Navy Operational Risk Management (ORM). Acceptable risk refers to those risks that have been evaluated and deemed manageable and tolerable in relation to the objectives and benefits of a particular operation or task.

In ORM, risks are assessed based on their likelihood and potential consequences, and those identified as acceptable can be consciously accepted as part of operational planning. This acceptance often comes after implementing certain control measures to mitigate more significant hazards that could affect mission success or safety.

By defining acceptable risk, teams are able to proceed with operations knowing that they have weighed the benefits against potential downsides. This balance is crucial for efficient decision-making and resource allocation in military operations, ensuring that teams can perform tasks without being hindered by risks that are recognized as manageable.