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Security threats continually evolve, and defences against them must evolve as well. A flexible response based on regular risk assessments is required by many best-practice frameworks, regulations, and laws. A risk assessment is essential for ensuring that a company is prepared and secure.
A security risk assessment will provide you with an accurate picture of the security threats that could jeopardise the safety of your staff and assets. It can be used to assist a company in determining the best security controls based on business needs and a cost-benefit analysis.
A security risk assessment finds, evaluates, and applies important application security controls. It also focuses on preventing security flaws and vulnerabilities in applications.
An enterprise can see its application portfolio holistically from the standpoint of an attacker by conducting a risk assessment. It helps managers in making well-informed decisions about resource allocation, tools, and security control implementation. As a result, conducting an evaluation is an important aspect of a company’s risk management strategy.
The depth of risk assessment models is affected by factors like size, growth rate, resources, and asset portfolio. When faced with money or time constraints, organisations can conduct generic assessments. Generalized evaluations, on the other hand, may not always include precise mappings of assets, associated threats, recognised risks, effects, and mitigation mechanisms. A more in-depth assessment is required if the results of the generalised assessment do not offer enough of a correlation between these areas.
Types of Assets | Assets are broken down into two types:
People Assets Risk Assessment |
People assets are not limited to your employees. Anybody who enters your premises is considered a people asset. Visitors, contractors, members of the local community, and anybody else who comes into contact with or is touched by your firm are all considered people assets.
You are responsible for safeguarding the security and safety of your people assets as an organisation. To do so effectively, you must first understand the dangers that your people assets face. This is when your risk analysis comes into play.
In terms of your people assets, your risk assessment should ask things such as:
These questions can help you figure out what kinds of problems you should be looking into. The most important thing is to take your time while assessing the risk of your people’s assets. This includes analysing every part of your organisation in terms of the possible hazards it poses to your human resources.
Property Assets Risk Assessment |
Buildings, machinery, utilities, vehicles, stock, equipment, systems, and any other physical entities owned by your company are all considered property assets. The value of your real estate assets can be enormous. Burglars and criminals are more likely to target your property assets than your human or informational assets.
In terms of your property assets, your risk assessment should ask things such as:
Keeping these points in view, every business should get a property risk assessment done by a professional service provider.
The 4 steps of a successful security risk assessment model
Identification | Determine the technological infrastructure’s important assets. Next, determine what sensitive data these assets create, store, or transport. Make a risk profile for each of them.
Assessment | Administer a method for assessing the security threats that have been discovered for key assets. Determine ways to deploy time and resources effectively and efficiently to risk reduction after comprehensive review and assessment. The association between assets, risks, vulnerabilities, and mitigating controls must be examined using the assessment strategy or methodology.
Mitigation | Define a risk mitigation strategy and put security controls in place for each one.
Prevention | Implement tools and methods to reduce the risk of attacks and vulnerabilities in your company’s resources.
The security industry is growing rapidly. Still finding a professional and reputed security service provider can be challenging. As a business owner, you should check several things when choosing a new provider. If a property risk assessment is on your mind and you’re looking for a security vendor then look no further, Shergroup is your one-stop shop.
We do not just provide a risk assessment for your property, but we also offer a range of comprehensive security services to secure your property. When you hire Shergroup as your security consultant, you can rest assured that your safety is in good hands. Call us today to discuss your requirements. You can contact us via our channels
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Last updated | 19 July 2023
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