Risk Management

Risk Management

Process of finding ways to minimize the likelihood of an undesirable outcome from occurring so that the desired outcomes can be reached

Threats and Vulnerabilities

Risk = Threat * Vulnerability (or Likelihood)
Risk = Threat * Vulnerability * Impact

Total Risk = Threat * Vulnerability * Asset Value
Residual Risk = Total Risk - Countermeasures

Risk Management Lifecycle

• Risk Identification
  • Risk Appetite
• Risk Assessment
  • Risk Register
• Risk Response and Mitigation
• Risk and Control Monitoring and Reporting

Due Diligence: Doing the research before implementation
Due Care: Implementation