Performing a risk analysis for a company? Here’s what you need to know.
Join us in today’s video as we show you How To Perform a Security Risk Analysis For Any Organization. Risk analysis relates to uncertainty — the chance a project succeeds or fails, the variation in expected outcomes, and the probable future conditions that can disrupt operations or cash flow.
Access additional risk assessment resources on our Risk Assessment and Security Risk Analysis pages. To schedule your next enterprise security risk assessment, contact Cyber Security Resource.
Almost every type of business needs some form of risk assessment. Commercial banks, for example, must appropriately hedge foreign exchange risk on overseas loans, while large retailers must account for the likelihood of lower sales as a result of a worldwide recession. It is crucial to understand that risk analysis helps experts identify and reduce hazards, but not entirely eliminate them. Watch the video for the full walkthrough.
From the video
In cybersecurity, the same idea applies to systems, data, and vendors. A usable security risk analysis inventories where sensitive information lives, identifies threats and vulnerabilities, estimates likelihood and impact, and produces a prioritized list of gaps leadership can act on.
- Define scope — systems, locations, vendors, and data in play
- Identify assets and where ePHI or other sensitive data is created, received, maintained, or transmitted
- Evaluate threats, vulnerabilities, likelihood, and impact
- Document current safeguards and residual risk
- Prioritize remediation and keep evidence for customers, insurers, and audits
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