Dealing with risk is a gigantic concern for organizations in all industries. Our Risk Assessment service is a general, high-level controls review of your organization’s risk and follows the Information Security Lifecycle methodology which is based on industry best practice.
Our specialists follow a scope of work that covers all the major risk areas of your organization. A typical risk assessment process consists of assessing Inherent Risks compared to Safeguards (mitigating controls) to represent the current status of risk. That assessment represents the Overall Risk Level simpliﬁed in the equation below. Inherent risks are identiﬁed without consideration of Safeguards or Cybersecurity Maturity.
Inherent Risk is commonly found by considering the actual threat, determining if it compromises the organization, coupled with the potential impact and probability of exposure. Here are 3 factors used to further deﬁned inherent risk: