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Risk Management
"Risk Management is the anticipation, recognition and appraisal of risk and the initiation of some action to remove the risk or reduce the potential loss from it to an acceptable level."
NCPI definition
Every organization faces an array of security, liability, and other potential exposure to loss. To be an effective manager you need to understand these threats and the options available to counter them.
What is a Risk Assessment?
Risk assessment is a rational and orderly approach, and a comprehensive solution, to problem identification and probability determination. It is the method of estimating the expected loss from an occurrence.
Some of the valuable information gained from an assessment is, Identifying Pure Risk vs. Dynamic Risk and Calculating Possible Maximum Loss and Probable Maximum Loss. Once risks have been identified, one could consider methods in managing those risks. Knowing this we than can apply one or more of the five methods of risk management; Risk avoidance, Risk reduction, and Risk spreading, Risk transfer, and Risk acceptance.
A security risk assessment is the basis for qualifying which protective measures and expenditures are justified in relation to your identified threat, loss or liability to your organization.
Poor and inadequate security and safety measures can create serious financial losses, cause liability; drain profits, damage moral, and can result in loss of confidence by various communities.
Effective management of risks can help prevent problems and improve protection of people, property, information, and the environment. It can help your organization's ability to operate and provide management peace of mind.
Planning the security function is an essential part of providing a safe environment and reducing an organization's liability.
Assessment Provided
- Information Security Risk Assessments
- Physical Security Risk Assessments
- Proprietary Information Risk Assessments
- Educational, Institutional Risk Assessments
What to expect?
- Provide the ability to measure policy and operational standards from a compliance evaluation process.
- Deliver quantifiable return on investment evaluations.
- Provide a comparative analysis of the current threat and vulnerability exposure to assets.
- Provide illustrations of how specific safeguards affect the existing vulnerability of specific assets of your organization.
- Provide a quick method of evaluation the financial effect of postponing the implementation of safeguards.
- The essence of risk management is cost-effectiveness. It is not only important to keep the cost of security as low as possible. It also means that one should apply knowledge of risk management in as creative a way as possible, looking for opportunities for profit, or other benefits, as well as ways to minimize loss.
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