Risk Management Strategies - CompTIA Security+ SY0-701 - 5.2
Risk Management Strategies
Risk Transfer and Acceptance
- Organizations can transfer risk to another party, exemplified by purchasing cybersecurity insurance.
- Accepting risk is a common strategy, allowing companies to decide how to manage it; exemptions from existing policies may be necessary.
Examples of Risk Acceptance
- A scenario where a company cannot apply updates due to manufacturer restrictions on equipment illustrates the need for policy exemptions.
- Management may approve an exemption for devices not connected to the network, ensuring compliance with security policies while managing risks.
Handling Exceptions in Security Policies
- Companies might create exceptions when critical software fails after applying patches, allowing more time for updates beyond standard protocols.
- This flexibility helps balance operational needs with security requirements.
Avoidance and Mitigation of Risks
- Completely avoiding certain risks eliminates the need for additional management strategies; however, this isn't always feasible.
- Investing in tools like next-generation firewalls can mitigate internet-related risks, showcasing proactive risk management.
Tracking Risks through Reporting
- Risk reporting documents all tracked risks within an organization, detailing descriptions and handling strategies.