Understand Your Risk Then Learn to Manage It
Become a Certified Chief Information Security Officer
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Home / Cybersecurity / Risk Management
Risk management is a risk assessment method that analyzes and eliminates risks to mitigate threats and optimize an investment’s profits. Risk management includes the detection, review, and reaction to risk factors that are part of a company’s existence. Efficient risk management means seeking — by behaving proactively rather than reactively — to monitor potential performance. Efficient risk management thus provides the ability to reduce both the potential for a risk to occur and its potential effects.
Risk management is the detection, assessment, and prioritization of risks through the implementation of choices to track, control, and minimize the possibility or effect of unfortunate events. Risks may come from several different sources, such as market volatility, project failure, legal repercussions, financial danger, incidents, natural disasters, an adversary’s deliberate attack, or other unexpected events.
A company faces many risks and needs specific strategy and department participation to handle the risks at various levels. Risks in a company can be classified into the following layers: