Acceptable Risk and Activation - Continuity Professionals Pulse

Risk Management as a Career: A Guide for BCM Professionals

MHA Consulting

AUGUST 24, 2023

It’s not about eliminating risk completely but managing it in a rational, informed way. Because the organization and environment inevitably change over time, managing risk is a task that’s never done. It’s a permanent ongoing activity. The operational areas that risk management is concerned are broad and varied.

Risk Management

Risk Management BCM Management All-Hazards

Risk Management Process – Part 3c: Risk Control

Zerto

AUGUST 24, 2023

The third crucial step in risk assessment is risk control, which involves crafting effective strategies to mitigate the identified risks. There are four fundamental types of risk control: risk acceptance, risk mitigation, risk avoidance, and risk transfer.

Risk Management

Risk Management Management Acceptable Risk Mitigation

How to Offload Your Risk to a Third Party

MHA Consulting

FEBRUARY 9, 2023

. · Risk avoidance: Altering organizational behavior to eliminate a given risk. Risk limitation: Taking measures to reduce risk, short of completely eliminating it. Incorporates a combination of the strategies of risk avoidance and risk acceptance. 2) Is the vendor resilient?

Insurance

Insurance Insurance Outsourcing Mitigation

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How to Avoid Pitfalls In Automation: Keep Humans In the Loop

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The Ultimate Guide to Residual Risk

MHA Consulting

MARCH 2, 2023

Residual Risk There are two main kinds of risk when it comes to organizational activities and business continuity: inherent risk and residual risk. Inherent risk is the danger intrinsic to any business activity or operation. A related but higher level concept is that of risk mitigation strategies.

Mitigation

Mitigation BCM Acceptable Risk Risk Management

These 8 Risk Domains Are the Meat and Potatoes of Risk Management

MHA Consulting

AUGUST 3, 2023

As a practical activity, enterprise risk management (ERM) centers on eight distinct risk domains, some strategic and some operational. With respect to this process, the total landscape of risk that is assessed and mitigated can be divided into eight risk domains. For more on those strategies, click here and here.)

Risk Management

Risk Management Management All-Hazards Mitigation

5 Steps towards an Actionable Risk Appetite

LogisManager

JANUARY 12, 2023

Risk appetites and tolerances are the perfect way to make data-driven, performance-enhancing decisions while developing a system to understand when and where your business is taking on too much risk, or not taking on enough. Risk Appetite. Risk Tolerance. Risk Appetite.

Acceptable Risk

Acceptable Risk Strategic Activation Mitigation

Who’s the Boss? Successful Risk Mitigation Requires Centralized Leadership

MHA Consulting

FEBRUARY 23, 2023

Try a Dose of Risk Management As a business continuity professional, I tip my hat to any organization that makes a serious effort to reduce its risks. Unfortunately, many companies do not get their money’s worth when it comes to implementing risk mitigation controls.

Mitigation

Mitigation Authorization Risk Management Risk Reduction

Managing Enterprise Risk: Understanding the 8 Risk Domains

MHA Consulting

FEBRUARY 29, 2024

Before we discuss the eight risk domains, there are three general points about risk management that are worth keeping in mind: 1. In essence, risk management is about being mature, practical, and proactive in actively managing down risk to make the organization more prepared to limit impacts and ensure operational resiliency.

Management

Management Risk Management Mitigation Strategic

Global Turmoil Making You Ill? Try a Dose of Risk Management

MHA Consulting

OCTOBER 19, 2022

I included MHA’s definitions of the strategies last time in my post on enterprise risk management. In case you missed it, here they are again: Risk acceptance is a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. It’s engaging in active, mindful risk mitigation.

Risk Management

Risk Management Management Mitigation Acceptable Risk

Business Continuity and Risk Management

BCP Builder

FEBRUARY 1, 2024

The Business Impact Analysis pulls from the Enterprise Risk Management process, the Business Continuity Plan is a series of contingency actions. The Business Continuity Management System framework is the system that stitches activities together. Business disruption incidents are triggered by both internal and external risk factors.

Risk Management

Risk Management Business Continuity All-Hazards Management

SOC 2 vs ISO 27001: Key Differences Between the Standards

Reciprocity

SEPTEMBER 23, 2022

The ISO 27001 statement of applicability focuses on preserving the confidentiality, integrity, and availability of information as part of the risk management process. These control sets offer management the option to avoid, transfer, or accept risks, rather than mitigate those risks through controls. What Is an ISMS?

Audit

Audit Accreditation Acceptable Risk Security

The Difference Between Strategic and Operational Risk

Reciprocity

AUGUST 17, 2022

Risk monitoring and risk data reporting. Since operational risks are constant, varied, and increasingly complex, ORM is an ongoing activity. It is guided by four fundamental principles: Accept no unnecessary risk. Accept risk when benefits outweigh costs. What Is Strategic Risk?

Strategic

Strategic Risk Management Mitigation Evaluation

Important KPIs for Successful Vendor Management

Reciprocity

AUGUST 24, 2022

Before outsourcing your business processes or striking some other deal with vendors, you do need to assess the risks they pose. The six risks listed below are a good place to start. Begin by determining your organization’s tolerance for cybersecurity risk. Cybersecurity. Business Continuity.

Management

Management Risk Management Cybersecurity Strategic

Guide: Complete Guide to the NIST Cybersecurity Framework

Reciprocity

OCTOBER 9, 2024

Detect: Define the appropriate activities to identify the occurrence of a cybersecurity event. Recover: Identify activities to restore any capabilities or services impaired due to a cybersecurity incident. Each function is a high-level goal aimed at managing and mitigating cybersecurity risk.

Cybersecurity

Cybersecurity Audit Risk Management Vulnerability

Guide: Complete Guide to the NIST Cybersecurity Framework

Reciprocity

OCTOBER 9, 2024

Detect: Define the appropriate activities to identify the occurrence of a cybersecurity event. Recover: Identify activities to restore any capabilities or services impaired due to a cybersecurity incident. Each function is a high-level goal aimed at managing and mitigating cybersecurity risk.

Cybersecurity

Cybersecurity Audit Risk Management Vulnerability

Continuity Professionals Pulse

Risk Management as a Career: A Guide for BCM Professionals

Risk Management Process – Part 3c: Risk Control

Webinars

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How to Offload Your Risk to a Third Party

Webinars

The Ultimate Guide to Residual Risk

These 8 Risk Domains Are the Meat and Potatoes of Risk Management

5 Steps towards an Actionable Risk Appetite

Who’s the Boss? Successful Risk Mitigation Requires Centralized Leadership

Managing Enterprise Risk: Understanding the 8 Risk Domains

Global Turmoil Making You Ill? Try a Dose of Risk Management

Business Continuity and Risk Management

SOC 2 vs ISO 27001: Key Differences Between the Standards

The Difference Between Strategic and Operational Risk

Important KPIs for Successful Vendor Management

Guide: Complete Guide to the NIST Cybersecurity Framework

Guide: Complete Guide to the NIST Cybersecurity Framework

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