MHA Consulting

FEBRUARY 9, 2023

Incorporates a combination of the strategies of risk avoidance and risk acceptance. Risk transfer: Passing risk on to another organization, such as by hiring a third-party vendor to perform the associated function. You still need to have a program to ensure the continuity of your business.

Insurance 98

Insurance Insurance Outsourcing Mitigation 98

MHA Consulting

FEBRUARY 15, 2024

An emerging hot topic in business continuity and risk management is the software known as a risk management information system (RMIS). An RMIS can help an organization identify, assess, monitor, and mitigate risks, but often they merely seduce and distract companies that are not in a position to make proper use of them.

BCM 106

BCM Risk Management Mitigation Business Continuity 106

MHA Consulting

AUGUST 24, 2023

They include process and procedural robustness and integrity; people, skills, and training; insurance and self-insurance; the supply chain, outsourcing, and inherent risk; infrastructure, systems, and telecommunications; and physical and information security. Transferring risk. Accepting risk.

Risk Management 98

Risk Management BCM Management All-Hazards 98

MHA Consulting

MARCH 2, 2023

Reducing risk is at the heart of everything we do as business continuity professionals. This week’s blog post will spell out the key concepts relating to this all-important goal; call it “The Ultimate Guide to Residual Risk.” Inherent risk is the danger intrinsic to any business activity or operation.

Mitigation 95

Mitigation BCM Acceptable Risk Risk Management 95

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. Business Continuity. Cybersecurity.

Management 52

Management Risk Management Cybersecurity Strategic 52

Reciprocity

AUGUST 17, 2022

Operational risk refers to the potential for losses that may result from disruptions to day-to-day business operations. These risks can have a financial impact, affect business continuity, damage the organization’s reputation, and weaken its compliance. Examples of Operational Risk.

Strategic 52

Strategic Risk Management Mitigation Evaluation 52

Reciprocity

OCTOBER 7, 2024

Different business areas require other vendors. For example, your human resource department possibly links to healthcare insurance providers using a web-based application. While some business partners are easy to define, the risks to your data environment come from being interconnected within an overarching ecosystem.

Cybersecurity 52

Cybersecurity Audit All-Hazards Risk Management 52