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Risk Management Process – Part 3c: Risk Control

Zerto

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.

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Third-Party Due Diligence Best Practices

Reciprocity

Finding vendors may be difficult, but determining your third-party risk feels insurmountable. In the due diligence review of third-party relationships, you need to evaluate, at minimum, the following: How does the vendor support my overall business objectives and strategic plans? How critical to business operations is the vendor?

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Guide: Complete Guide to the NIST Cybersecurity Framework

Reciprocity

They enable organizations to establish a roadmap for reducing cybersecurity risk consistent with their mission, needs, and objectives. You’ve established incident alert thresholds. You mitigate newly identified vulnerabilities or document them as accepted risks. You know the impacts of cybersecurity events.

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Guide: Complete Guide to the NIST Cybersecurity Framework

Reciprocity

They enable organizations to establish a roadmap for reducing cybersecurity risk consistent with their mission, needs, and objectives. You’ve established incident alert thresholds. You mitigate newly identified vulnerabilities or document them as accepted risks. You know the impacts of cybersecurity events.