Remove Acceptable Risk Remove Insurance Remove Vulnerability
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How to Offload Your Risk to a Third Party

MHA Consulting

There are four main strategies for mitigating risk : · Risk acceptance: Making a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. Risk avoidance: Altering organizational behavior to eliminate a given risk.

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The Ultimate Guide to Residual Risk  

MHA Consulting

A related but higher level concept is that of risk mitigation strategies. There are four main risk mitigation strategies: Risk acceptance. A strategy involving a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. Risk avoidance. Risk limitation.

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Third-Party Due Diligence Best Practices

Reciprocity

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. The difficulties arise when you start drilling down further.