Top Risk Management Practices for Success For CIOs.
● Scope Of The Assessment—To make the assessment comprehensive, it is important to clearly define the criteria for systems, assets, and data to be included.
● Identify Assets And Evaluate Worth – Identify the assets within the range of the assessment and evaluate their worth, considering their contribution to the organization’s overall operations.
● Identify Potential Threats – Assess potential cyber threats that could affect the digital assets by analyzing current and historical threat data, while keeping the possibility of new or emerging threats into consideration.
● Assess the Probability of Risk—Evaluate the likelihood and frequency of each risk’s occurrence, using the available data and considering the current threat landscape.
● Evaluate The Potential Impact Of Risk – Assess the potential impact of each identified risk on the organization’s assets and overall operations, considering the consequences of a breach and the extent of the possible damage.
● Prioritize Risks – Prioritize the identified risks based on their likelihood and impact,…
