glossary of terms 403 Term Strategy Definition Statement of where the organization wants to be in three or five years time, often defined by strategic objectives ­ strategy should be efficacious Medium-term, control or uncertainty risk associated with change and projects designed to ensure that the organization delivers the planned strategy Developments, projects and programmes of work to implement strategy and move the organization from where it is now to where it wants to be in three or five years time ­ tactics should be effective The ultimate level of risk that is desired by the organization when planned additional controls have been implemented reference Chapter 27 Tactical risk Chapter 3 Tactics Chapter 27 Target risk Figure 15.3