Addressing Risks and Opportunities

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The company that I work with wants to show that we can meet universally recognized specifications, ensuring that our services are of a good quality, safe and reliable. We have undergone series of audits and we finally got our ISO certification. The standard that we are compliant with specifies the monitoring and controlling of risks and opportunities within our system so now we are looking for a tool that will help us with risk management. In order for a business to thrive, it has to identify in some manner what risks it may have and how it can affect the services rendered and we want to do this in an automated way. Anyone who know how we can achieve this?

 

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Hi Rosanne, I'm sure there are automated risk management tools but most of the orgs I've worked with have used a spreadsheet and scheduled a regular meeting (say monthly) to review risks. The current spreadsheet I'm using has headings for:

Risk no.
Date first raised
Raised by
Risk and impact description
Probability score (max 3)
Impact score (max 3)
Risk score (probability x impact) - color coded red/amber/green
Current mitigation plan
Target probability after mitigation
Target impact after mitigation
New risk score
Owner
Date of last update
Status

Even the best tool will require some human input around prioritisation and impact assessment. Kind regards, Claire

 

First and foremost a strong security needs the right risk management tools for your enterprise.