How to avoid high costs associated with insufficient or absent risk management? The importance of risk management should not be underestimated. The situation in cyberspace encourages organizations to upgrade risk management techniques, adopt risk-based thinking and support it with sufficient risk management plans and appropriate risk management solutions.
Global and Operational Enterprise Risk Management Challenges
What if your risk management strategy is not mature enough? Economic slowdown, regulatory pressures, increasing cyber threats, business disruption, and reputational, political, and third-party risks may all stand in the way of robust compliance and risk management.
Companies often face the following challenges in risk management in project management:
- Identifying vulnerability areas and risks;
- Running gap analysis and risk assessment;
- Establishing simple and efficient risk assessment system;
- Keeping track of risk monitoring activity;
- Maintaining a continuous Risk Management process as Risk Identification, Evaluation, Treatment, Reporting.
The Solution: Use Appropriate Risk Management Tools
Consistent security risk management includes the the following steps:
- Risk Identification;
- Risk Assessment;
- Risk Treatment;
- Risk Reporting and Documentation.
Infopulse SCM is a risk management software that effectively supports the entire Risk Management process and guides you through every step.
SCM Qualitative Risk Management Workflow
For improved decision making and threat prevention, Infopulse SCM has the following features to smooth your risk management procedures:
- Adaptable catalog of threats specific to individual organization;
- Set of pre-defined catalog templates, e.g. threat Catalog from IT-Grundschutz Kompendium;
- Prioritized risk identification to protect critical assets;
- Identification of threats and vulnerabilities and mapping to the related assets or processes;
- Risk Analysis and Evaluation providing the risk-level matrix-based (4 and 5 dimensions) both on threat probability and its individual impact on each asset;
- Definition of Risk mitigation measures and mapping them to requirements and controls;
- Automatic risk acceptance.
Risk and Threat Analysis
The inbuilt Qualitative Risk Management workflow based on BSI IT-Grundschutz (ISO/IEC 27001/27002), ISO/IEC 27005, and ISO 31000 covers all stages of the Risk Management process and risk management services.
Benefits of Risk Management
As an all-in-one GRC solution, Infopulse SCM efficiently addresses Risk Management major pain points and offers the following functionality for implementation of your risk management plan:
- Simple risk detection and identification with easy-to-follow guidance;
- Fast and accurate automated risk assessment and gap analysis;
- Detailed record of risk monitoring history for project risk management;
- Single communication channel and database in risk management solution;
- Full cycle of Risk Management process via a single control center;
- SCM adjusts to individual and changing needs. It enables you to accomplish your Risk Management program without extra effort.
If you are about to implement or improve your Risk Management system, contact the Infopulse experts for advice. We will assist you to build a comprehensive action plan based on a proactive Risk Management approach.
Effective and easy-to-use IT security management system based on the latest standards and regulations — from planning and establishing the security concept to certification.