Triniti IT Security's risk assessment and management solutions use an optimal balance between people, processes, and technology. Risk management is the key to a successful security strategy. We help organizations identify risks related to their information security and prioritize those risks so that they can allocate resources in the most cost-effective way.
Risk management can be defined as the process of assessing potential threats and developing strategies and plans to manage them.
Some of the policies that you can put in place are avoiding the risk, transferring the risk, or reducing the negative impacts of the risk.
Traditional risk management deals with threats that come from legal or physical causes. On the other hand, financial risk management focuses on risks that can be handled using financial instruments. There are many types of risks that a business can be exposed to. However, regardless of the risk, any given organization should have a risk management team to manage the different threats.
Ideally, risk management starts with understanding the context. This will involve analyzing the firm's objectives and set up a framework for the process.
The next step is usually the identification of all the potential dangers and threats that your organization is faced with. Thus identifying the risk starts with the cause of the problem.
Once you determine the risks, you have to assess them based on severity and probability of occurrence. The grouping of risks will help you to know the measures that you can put in place, and more importantly, it will assist you in understanding which risks managing at what time.
The last step in risk management is coming up with measures to mitigate the risks.