7. Operational resilience is an outcome that benefits from the effective management of operational risk. [BCBS, Revisions to the Principles for the Sound Management of Operational Risk, March 2021.] Activities such as risk identification and assessment, risk mitigation (including the implementation of controls) and the monitoring of risks and control effectiveness work together to minimise operational disruptions and their effects. In addition, management's focus on the bank's ability to respond to and recover from disruptions, assuming failures will occur, will support operational resilience. An operationally resilient bank is less prone to incur untimely lapses in its operations and losses from disruptions, thus lessening incident impact on critical operations and related services, functions and systems. While it may not be possible to avoid certain operational risks, such as a pandemic, it is possible to improve the resilience of a bank's operations to such events.