Risk Management - 5.2
Summary
Risk management involves identifying potential risks and conducting various assessments—such as one-time, continuous, ad hoc, and scheduled assessments—to evaluate and address risks, ensuring ongoing preparedness and security for the organization.
Notes:
Risk Identification
- The process of identifying potential risks, vulnerabilities, and their impact on the organization to improve preparedness and inform risk management strategies.
Risk Assessment
- One-time Assessments: Conducted in response to specific events, such as the acquisition of a new company or the implementation of new technologies.
- Continuous Assessments: Performed regularly as part of ongoing processes, such as during change management or operational reviews.
- Ad Hoc Assessments: Performed on-demand to assess narrow, specific risks or threats that may arise unexpectedly.
- Scheduled Assessments: Recurring assessments conducted at regular intervals (e.g., yearly, quarterly, or monthly) to ensure risk management practices stay up to date.