Risk Management - CompTIA Security+ SY0-701 - 5.2
Understanding Risk Management in Organizations
Importance of Risk Management
- Most organizations implement risk management to identify and address potential risks before they escalate into larger issues, which is crucial as the organization grows.
- Risk management helps organizations qualify threats that may arise from both internal and external sources, allowing for tailored assessments based on specific concerns.
Types of Risk Assessments
- Organizations can conduct one-time risk assessments related to specific projects, such as acquisitions or new technology installations, to evaluate associated risks.
- Ongoing risk assessments are often part of a change control process, where understanding risks is essential for every proposed change.
Ad Hoc Risk Assessments
- An ad hoc risk assessment is performed for a specific purpose, such as evaluating susceptibility to a newly identified attack type after a conference attended by the CEO.
- Typically, a committee is formed to conduct this focused assessment. Once completed and reported back to leadership, the committee may be disbanded due to the narrow scope of the evaluation.
Scheduled Risk Assessments
- Some organizations opt for regular risk assessments on a set schedule (e.g., quarterly or annually), ensuring ongoing awareness and documentation of potential risks.