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As a practical activity, enterprise riskmanagement (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. Riskmanagement is not one-size-fits all.
Many companies spend millions of dollars implementing riskmitigation controls but are kept from getting their money’s worth by a disconnected, piecemeal approach. Successful riskmitigation requires that a central authority supervise controls following a coherent strategy. I wish it were true.
In such times, the best thing an organization can do is get serious about riskmanagement. Related on BCMMETRICS: The ABCs of ERM: The Rise of Enterprise RiskManagement An Unstable Global Environment Not since the height of the Cold War has the global environment felt as shaky as it does now.
During COVID, business tended to focus on only two of the five risk types; however, organizations that want to prosper over the long term need to be cognizant of and plan for all five kinds of risk. The wise organization develops strategies and plans to mitigate and prepare for all five types of risk.
Reducing risk is at the heart of everything we do as business continuityprofessionals. 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.
Turner calls business continuity her first love, adding that in her role at Microsoft, she had a unique opportunity to integrate riskmanagement into business continuity, initiating an operational enterprise riskmanagement program that united governance with business continuity as an operational risk.
A great place to get an overview of the whole BC field, from Program Administration to Exercises to RiskManagement and Mitigation. Contains links to toolkits for preparing for different hazards as well as pages on Emergency Response Plans, Crisis Communications Plans, Incident Management, IT/DR, and much more.
As a business continuityprofessional, there are steps you can take before and during such an attack to help your organization get … The post How to Help Your Organization Get Through a Ransomware Attack appeared first on MHA Consulting. Ransomware attacks are increasing in frequency and severity.
In enterprise riskmanagement (ERM), risk is commonly divided into eight distinct risk domains, some strategic and some operational. Before we discuss the eight risk domains, there are three general points about riskmanagement that are worth keeping in mind: 1. Following the risk assessment.
For business continuityprofessionals, the goal is to protect the organization’s continuity of operations. Third-party management, for example, is not just about onboarding vendors, but also assessing them and understanding the vendor risks so that your organization can continue to deliver products and services, no matter what.
Business continuityprofessionals can learn a lot from the U.S. of Defense’s approach to operational riskmanagement. In today’s post, I’ll summarize the DOD’s five-step approach to ORM and explain how each step might be helpful to your organization. Learning from the Military I’ve always admired the U.S.
In today’s blog, we’ll look at those risks from the point of view of a business consultant who specializes in technology and IT disaster recovery. Tips on Dealing with the AI Threat Those are the three main risks of AI from a BC perspective, as I see them. Related on MHA Consulting: Global Turmoil Making You Ill?
Read on to learn the key qualities of successful cybersecurity leaders, how to build and retain a strong security team, strategies for fostering continuousprofessional growth, and methods to create a culture of security within your organization. This ability directly influences how quickly a company can recover from cyberattacks.
If we had a known threat, why weren’t business continuityprofessionals prepared? The converse of point one is that if riskmanagement is so great and comprehensive, why were so few of us prepared?
If we had a known threat, why weren’t business continuityprofessionals prepared? The converse of point one is that if riskmanagement is so great and comprehensive, why were so few of us prepared?
Business continuityprofessionals who want to make their organizations more resilient should make a conscious effort to become gap hunters. Time spent identifying and closing gaps in the organization’s preparedness is an investment that brings exceptional returns.
Conducting Privacy Impact Assessments (PIAs): Data Privacy Officers are tasked with conducting Privacy Impact Assessments (PIAs) to identify and assess privacy risks associated with new or existing data processing activities. They collaborate with legal teams to navigate complex legal frameworks and mitigate potential risks.
If we had a known threat, why weren’t business continuityprofessionals prepared? The converse of point one is that if riskmanagement is so great and comprehensive, why were so few of us prepared?
Geopolitical risk is arguably at the highest level it’s been in 50 years. Try a Dose of RiskManagement A World in Tumult There’s a consensus among the key executives I’ve talked to recently: the current global environment contains more risk for organizations than at any time in the last half century.
The Disaster Recover y Institute International ( DRII ) and the Business Continuit y Institute ( BCI ) are the two major governing bodies that are responsible for defining and developing business continuity practices as well as certifying business continuityprofessionals.
The Disaster Recover y Institute International ( DRII ) and the Business Continuit y Institute ( BCI ) are the two major governing bodies that are responsible for defining and developing business continuity practices as well as certifying business continuityprofessionals. Risk Methodology. Vendor RiskManagement.
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