Risk management is the identification, assessment, evaluation and then mitigation of risks to business. The main goal of risk management is to reduce uncertainty in achieving business objectives. Organisations require clear visibility of their strategy and road-map meanwhile preparing for the risks (internal or external). Risk management is built on clear identification and prioritisation of organisational assets.
The basic steps of risk management are:
It is important to mention here that risk management must be based on business goals while seeking guidance from industry best practices. Alteration or combination of multiple standards may deliver better results for organisations.
The growing number of cyber-attacks have make the cyber space more volatile, thus requiring enterprise wide risk management efforts. Various risk management standards have been developed, some focusing on cyber security while other providing guidance on general risk management. ISO 27005, NIST SP800-53 risk management framework and OCTAVE focuses on risks related to information security. ISO 31000 provides principles and general guidelines for risk management.
IT Security.org utilises the expertise of its industry experts to deliver best risk management services for your business. Our diverse experience helps us understand your internal/ external threats and establish your risk posture. A well-established risk management program makes your business resilient to unforeseen circumstances and incidents.
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