Risk Management

tag: [Operations & Strategy, Legal & Compliance]

If a project has effective risk management, it is also likely to be successful at identifying, assessing, and mitigating potential threats to the project. By utilizing risk management, you're likely to be able to prioritize security efforts and see where resources are needed. Risk management provides the capabilities to develop and implement strategies to mitigate identified risks by continuously monitoring the security landscape for new threats and vulnerabilities and then communicating risk findings and mitigation strategies to relevant people.

Best Practices for Risk Management

1. Use established frameworks such as NIST, ISO 27001, or COBIT to help start your risk management efforts.
2. Focus on the most critical risks first, using a risk matrix to prioritize based on likelihood and impact.
3. Conduct regular risk assessments and reviews to keep up with the so very evolving threat landscape.
4. Use lessons learned from past incidents and risk assessments to continuously improve your risk management practices.