Every business has a goal. IT should be the top priority, and companies must manage IT risks to make sure that their objectives can be met.
Every company sector may have unique characteristics such as the nature of competition, laws, and internal as well as external contextual elements.
This is why it’s important to apply the available IT risk management in a context-sensitive manner and not take it for granted.
Understanding The Associated Risk
In general, risk is defined as the product of the probability of an event and its outcome from unforeseen circumstances that may have a good or negative impact on the goals of the organization.
How do you think about the following four risk to your business?
- Data Security & Privacy
- IT Resilience
- Technology Error
- Business Interruption
Conducting The Risk Assessment
- Identify threat source inputs
- Identify threat sources
- Determine if threat sources are relevant to the organization and in scope
- Create or update the assessment of threat sources
Conclusion:
Identifies IT risks, mainly related to the company’s goals on regulatory compliance and internal process optimization. All risks have internal actors, with most events occurring due to rules and regulations factors.