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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: riskacceptance, risk mitigation, risk avoidance, and risk transfer.
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?
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 acceptedrisks. You know the impacts of cybersecurity events.
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 acceptedrisks. You know the impacts of cybersecurity events.
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