Services

Risk Analysis

Risk is the possibility and uncertainty of the loss, theft, compromise or damage to a critical asset in any form. Critical Assets are found in four general categories: Physical, Information, Personnel, and Intangible. Intangible assets include, but are not limited to, intellectual capital, reputation, credibility, competitive advantage, standing in the community, shareholder value.

Risk is the possibility that an incident would interfere with the achievement of a goal or a target, something that would adversely impact an organization's objectives or operational effectiveness. Risk is inherent in every component of any process.

To deal with risk effectively, it must be managed. Failure to manage risk results in incidents involving intent (security) or are unintentional or “accidental” (safety). The management of risk must be fully integrated into an organization's entire process as an integral component. It is definitely not a silo issue.

The first step towards establishing a secure, minimal-risk operation and the foundation for any asset protection program is a Risk Analysis. It identifies critical assets and evaluates the adequacy of protection that is afforded them. To do otherwise is unwise, as scarce and limited resources are used to address symptoms and not resolve the real underlying causes. This may prove to be not only costly, but fatal - and not just to a critical asset, but to the organization itself.

Using Risk Analysis as a diagnostic tool, we critically probe 20+ key management control areas to determine the extent to which an entity is organized to deal with risk. It assists management with making informed business decisions, and with developing sound cost-effective business strategies to eliminate, reduce or control risks.

A Risk Analysis considers threats, vulnerabilities and the consequences of critical asset loss, theft, compromise or damage on the organization.

A Risk Analysis incorporates the entity's environment and culture in which it operates, its preferred way of doing business, including how it manages risk. It looks at the impact of risk on stakeholders, internal and external, and those with a vested interest in either stasis or change. It examines an entity's managers and stakeholders operational knowledge of their relevant areas of control and assists them with identifying critical control points. It helps them to identify and evaluate how risk(s) may adversely impact operations on all levels.

A Risk Analysis also enables the focusing of limited and scarce resources on critical control points within the entire operational process rather than being diluted and thereby ineffective along the entire process itself. It assists management with developing a strategy to effectively manage risk.

And this is why organizations deal with risk, manage risk - rather than avoid it!