To stick or twist: Information risk management

Risk is everywhere in our lives. Some companies are scared of this, but others face up to it and want to master it. That’s because risk can present businesses with opportunities, while their negative effects can be mitigated.

A risk assessment is a requirement of the Health Insurance Portability and Accountability Act, which you might know by its acronym HIPAA, and also the HITECH Act, SOX and other pieces of legislation. It acts as the cornerstone of developing effective and efficient security for your business’s information.

netlogx’ risk management services will guide your enterprise through the process of setting up, and then sustaining, effective risk management. This involves two principal factors:

A risk assessmentidentifies and characterizes any threats, then looks at how vulnerable your critical assets are to specific threats. The risk, for example the likelihood and consequences of specific attacks on specific assets, is then determined.

A risk mitigationfinds ways to reduce risks and then prioritizes risk reduction measures, based on an agreed strategy.

Our methodology around risk management follows what’s known as a Plan Do Check Act (PDCA), or Shewhart Cycle, approach.

It involves a continuous assessment of your company’s risk management picture with improvements made if necessary. This mirrors information management systems such as ISO 27000 and is universally recognized as best practice.

Why is information risk management so important?

If your enterprise is subject to legislation surrounding risk management, netlogx will make sure you’re compliant. You can be sure that the focus will be on risks that are most likely to occur and have the greatest impact, which means that resources and time will be spent effectively and efficiently.