I. T Risk Assessment

I . T Risk Assessment. How a Risk Assessment Can Save Your Business.

I.T RISK ASSESSMENT. T h i s i s a s y s t e m a t ic e x a m i n a t i o n I.T environment a n d a combined effo r t of identifying and analyzing potential events that may negatively impac t I.T assets . It is the process of identifying security risks and assessing the threat they susceptible to..

The pu r pose of an IT r isk assessment is to ensu r e all vulne r abilities and sho r tfalls a r e identified and add r essed p r ope r ly..

The fi r st step is to identify all the info r mation, p r ocesses, and info r mation assets that a r e c r ucial o r impo r tant fo r the functioning and secu r ity of the business. Identifying these c r itical components will help us decide what we want to p r otect, and what the consequence of losing them would be..

Step 2 : Identify vulne r abilities and th r eats:.

Example of risk related event..

Some r isks a r e mo r e seve r e than othe r s, so at this stage, we need to dete r mine which ones we need to be most conce r ned about..

In doing this, we should first a nalyze existing counter measures (controls) in place , determine if they are adequate to mitigate the risk. If gaps exist, we should create an action plan to fix the gaps or to support the existing controls . While we' r e not expected to eliminate r isk, as often this isn't possible, we should take action that are proportionate or commensu r ate to the level of r isk. - This determines the Adequacy of the control in place . R isks that pose a bigge r th r eat should r eceive mo r e extensive cont r ol measu r es than low- r isk haza r ds..

Reco r d You r Findings. RISK ASSESSMENT FORM LIKELIHOOD -S Theft of cash RISK ASSESSMENT SAMPLE RISK RATING.

Wo r k envi r onments a r e constantly changing — new people come and go, equipment and p r oducts a r e swapped, and trialed, and new mate r ials a r e int r oduced. And the mo r e a wo r kplace changes and additional IT assets a r e int r oduced, the less r elevant the r isk assessment becomes. T o make su r e r isk assessments a r e up to date and inclusive of all potential haza r ds or loss, they need to be r eviewed and potentially updated eve r y time the r e a r e significant changes in the wo r kplace..