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Enterprise Risk Management
As the person in charge of IT security, you're entrusted to determine the security capabilities that your IT systems must have in order to provide the necessary level of support in the face of real world threats. And you have to accomplish this under a tight budget.
At InfoSight, we'll work with you to ensure the security of your IT systems, help you make well-informed risk management decisions to justify your IT security expenditures, and assist you in accrediting your IT systems with supporting documentation.
Our Risk Management services encompass three processes:
Risk Assessment - We'll identify vulnerabilities in your IT systems, assess the likelihood and potential impact of threats, and assess the sufficiency of controls to mitigate risks. The output of a risk assessment helps to identify appropriate controls for reducing or eliminating risk during the risk mitigation process.
Risk Mitigation – We'll prioritize, evaluate, and implement the appropriate risk-reducing controls recommended from the risk assessment process. This phase of risk management will address the greatest risks and strive for sufficient risk mitigation at the lowest cost, with minimal impact on other mission capabilities. To aid management in decision making and to identify cost-effective controls, a cost-benefit analysis is conducted.
Evaluation and Assessment - In most organizations, the network itself will continually be expanded and updated, its components changed, and its software applications replaced or updated with newer versions. In addition, personnel changes will occur and security policies are likely to change over time. These changes mean that new risks will surface and risks previously mitigated may again become a concern. Thus, the risk management process is ongoing and evolving.
Contact us today to get started identifying and reducing risk while controlling your IT budget.
Another source of risk includes your system and application users. Security awareness training is essential to minimizing risk.
Complementary Services
GLBA Risk Assessment
Change Management
IT Planning and Efficiency Studies
What is Enterprise
Risk Management?
Enterprise Risk Management is a structured approach to controlling uncertainties and potential dangers by assessing what the particular uncertainties or dangers are, then developing strategies to minimize or mitigate those uncertainties or dangers. For example, the decisions that lead to installing a security system in your home are the same decisions that drive corporate security. In the case of home security, you install the system and pay a monthly fee to a service provider who monitors it. Most likely, you’ve weighed the cost of system installation and monitoring against the safety of your family and the value of goods in your household (your personal objective). Enterprise Risk Management is no different. It plays a critical role in protecting an organization's information assets and its ability to achieve its objective. Risk Management strategies may include techniques for avoiding the risk, transferring the risk to another party, or accepting that some portion of a risk is inevitable when undertaking some activities and accounting for that probability.
Do you have something to add to this definition? Let us know. Email your comments and contributions.
Also see GLBA Risk Assessment.
