Conducting an information security risk assessment can be complex and time-consuming, but best practice is, fortunately, well established.
Following an approach that consistently and cost-effectively meets your risk management objectives allows this best practice to become embedded in the organisation, and ensures repeated risk assessments are consistent, valid and comparable, as stipulated by ISO 27001 – the international standard for an ISMS (information security management system).
Our free white paper, 5 Critical Steps to Successful Risk Assessments, outlines a five-step risk assessment plan that anyone can follow.
This blog, the fourth in a five-part series, summarises the fourth of those steps.
To find out more about this foolproof five-step approach, download your free copy of the white paper now.
Step 4: Evaluate risks
Last time, we looked at analysing the risks to the information your organisation holds. The next step is to evaluate those risks to establish where they fit in terms of your risk appetite. Only once you’ve done this can you decide the appropriate way to treat each risk.
Good risk assessment software should automatically collect the results of your risk analysis and calculate where each risk sits on your risk scale. It’s particularly important to identify whether or not the risk falls within or outside your predetermined level of acceptable risk.
This means you should be able to quickly identify your highest risks and create a prioritised list of which risks to address in what order.
The information security risk assessment software tool vsRisk streamlines the risk assessment process and has been proven to save users huge amounts of time, effort and expense.
For more information on establishing a risk assessment framework, download your copy of 5 Critical Steps to Successful Risk Assessments now.