Risk Analysis: Identifying and Mitigating Threats to Your Business

Risk analysis is a critical process for identifying potential threats to your company’s knowledge and determining how to safeguard it effectively.

Why Conduct a Risk Analysis?

Before delving into the process, consider these essential questions:

• What happens if sensitive customer files or documents are exposed or hacked due to vulnerabilities in my systems? (Access and Control Measures)
• How long can I operate without access to vital files, programs, websites, databases, or servers? (Availability Control)
• Am I adequately protected against ransomware or other malware infections?
   

If you haven’t yet addressed these questions or evaluated the value of your data and potential risks, it’s crucial to act now to secure your information assets.

How Does a Risk Analysis Work?

A structured risk analysis identifies and evaluates potential threats, such as:

• Fire, water damage, or theft of servers
• Cyberattacks, including hacking and ransomware

This involves a comprehensive structural analysis to document:

• Infrastructure: Buildings and server rooms
• Network Components: Firewalls, switches, routers, and connections (e.g., Ethernet, backbone technology, internet, and remote access)
• IT Systems: Clients, servers, laptops, and mobile devices
• Applications: All critical software in use
   

Based on this detailed inventory, we assess relevant risks and their significance to your organization.