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Three Steps to Improved Risk Management

Posted on Tue, Nov 8, 2011

Risk management

An improved risk management strategy can produce a significant return on investment once it is in place. Developing and implementing such a strategy is an ideal task to be performed as project work by an IT consulting firm with expertise in helping businesses implement IT solutions that serve to manage and minimize risk. Such a project will usually have three critical stages.

Step One: Assessment

In this step, the IT consultant will establish procedures and install software that will allow for the automatic assessment of security risks. During this assessment, IT consultants will be able to examine the potential threat each risk represents to the company's infrastructure and workflow.

Step Two: Provide Solutions

In this stage, the consulting team will work to establish solutions that help your company to minimize risk exposure. These solutions should be prioritized so that risks that pose a greater potential impact to the business are resolved first, with occasional risks accorded less attention during the initial IT solutions stage.

Step Three: Implementation

Solutions are most effective when they are consistently applied and security policies are enforced. This involves taking proactive steps to regulate access to critical information and using maintenance tools to regularly verify that security measures are maintained. An essential part of this stage is to use real-time monitoring tools so that relevant personnel can see security ‘in action’. This is far more useful than merely checking logs of what has already happened, sometimes hours earlier.

 

Tags: IT Consulting, Security, Risk Management, IT Assessment

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