A risk assessment program is about identifying threats to assets, the likelihood of the threats occurring in a given time period, estimating the potential damage if the threat is exploited, and implementing appropriate controls to offset the biggest and most likely risks first and best.
All of this is made far easier on an initial and ongoing basis using a digital risk assessment or Governance, Risk, and Compliance (GRC) program. A risk assessment program can help you keep track of the various assets, threats, calculated risks, implemented controls, and accepted risks – on an ongoing basis. Calculations can be tweaked as assets, risks, and controls change over time. Download this white paper for summary of the phases in any risk assessment program.
