Understand and eliminate risk
Before your business can effectively manage its risks, it needs to identify them first. Envision will partner with your organization to perform a Technical Risk Assessment: a comprehensive process designed to identify, analyze, and mitigate potential risks associated with your organization’s operations.
4 key benefits of a Technical Risk Assessment:
- Enhanced resilience against potential disruptions.
- Improved decision-making based on a thorough understanding of operational risks.
- Compliance with regulatory requirements and industry standards.
- Strengthened stakeholder confidence in the organization’s IT infrastructure.
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What to expect during a Technical Risk Assessment:
Clearly outline the scope of the IT Operational Risk Assessment, covering systems, processes, people, and assets. Establish specific objectives aligned with organizational risk management goals to guide the assessment effectively.
Compile an inventory of IT assets, including hardware, software, data, and personnel. Map dependencies to understand potential risks comprehensively.
Collaborate with stakeholders to identify and document potential threats, including external (e.g., cyberattacks, natural disasters) and internal (e.g., system failures, unauthorized access).
Thoroughly assess vulnerabilities in IT assets and systems, identifying weaknesses in hardware, software, and processes that could be exploited by potential threats.
Quantify and prioritize identified risks based on potential impact, urgency, and likelihood. Assess consequences and determine the organization’s risk tolerance.
Develop and implement control measures to mitigate risks, aligning with industry best practices and regulatory requirements. This includes security protocols, disaster recovery plans, training, and technology solutions.
Establish continuous monitoring to track changes and emerging risks. Regularly review and update the risk assessment to maintain effectiveness against evolving threats.
Prepare a comprehensive report summarizing findings and recommendations. Communicate results to stakeholders to foster awareness and accountability.