Business & Security Risk Management
Risk Management
Security Risk Management is the ongoing process of identifying these security risks and implementing plans to address them. Risk is determined by considering the likelihood that known threats will exploit vulnerabilities and the impact they have on valuable assets.
Our Process
1. Identifying potential risks: The first step in security risk management is to identify potential risks to the organization’s assets. This typically involves conducting a thorough assessment of the organization’s operations and infrastructure, looking for vulnerabilities and potential sources of threats.
2. Assessing the risks: Once potential risks have been identified, the next step is to assess their likelihood and potential impact. This typically involves quantifying the potential damage that a given risk could cause, and estimating the likelihood that the risk will materialize.
3. Prioritizing the risks After risks have been identified and assessed, the next step is to prioritize them based on their likelihood and potential impact. This helps the organization focus its efforts on the risks that pose the greatest threat, and allows it to allocate resources accordingly.
4. Developing a plan to mitigate the risks Once risks have been identified, assessed, and prioritized, the next step is to develop a plan to mitigate them. This may involve implementing new security measures, such as better access controls or more robust network security, or it may involve changing the organization’s policies and procedures to reduce the likelihood of a security breach.
5. Implementing the plan: After a plan has been developed, the next step is to implement it. This typically involves putting the necessary controls, policies, and procedures in place, and ensuring that all employees are aware of and trained in their use.
6. Monitoring and reviewing the plan: Security risk management is not a one-time process – it is an ongoing effort that requires regular monitoring and review to ensure that the organization’s assets are protected. This may involve regularly assessing the organization’s security posture, conducting audits, and updating the risk management plan as needed.