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IT Risk Assessment Methodology

If your business relies on information technology (IT) systems such as computers and networks for key business activities you need to be aware of the range and nature of risks to those systems. There are different categories of risk that you can have and they are as follows:

General threats to IT systems and data include:

  • hardware and software failure - such as power loss or data corruption
  • Human error - incorrect data processing, careless data disposal, or accidental opening of infected email attachments.
  • viruses - computer code that can copy itself and spread from one computer to another, often disrupting computer operations
  • malware - malicious software designed to disrupt computer operation
  • spam, scams and phishing - unsolicited email that seeks to fool people into revealing personal details or buying fraudulent goods

Specific or targeted criminal threats to IT systems and data include:

  • hackers - people who illegally break into computer systems
  • passwords theft - often a target for malicious hackers
  • security breaches - includes physical break-ins as well as online intrusion
  • fraud - using a computer to alter data for illegal benefit
  • Staff dishonesty - theft of data or sensitive information, such as customer details.
  • denial-of-service - online attacks that prevent website access for authorized users
The above mentioned are some of the common IT risks that you may come across in everyday life. To tackle such kind of risks you need to have a proper methodology which will work properly to help you eliminate the risk of anything for your information technology. It can be anything starting from your computer system to your passwords and other details. You can also look for security architecture review in Delhi NCR to ensure that your security system is up to date.

Steps involved in risk assessment methodology

There are various steps involved in risk assessment methodology which you should know before you implement that in your organization. Below are the various steps involved in it:

Risk identification: In this methodology for identification you needed to identify assets, threats and vulnerabilities. Sometimes, it does not require such identification, which means you can identify risks based on your processes, based on your departments, using only threats and not vulnerabilities, or any other methodology you like; however, the best preference is still the good old assets-threats-vulnerabilities method.

Risk owners: Basically, you should choose a person who is both interested in resolving a risk, and positioned highly enough in the organization to do something about it.

Assessing consequences and likelihood: You should assess separately the consequences and likelihood for each of your risks; you are completely free to use whichever scales you like or what suits you the best. In this way you can rate your risks from low-medium-high.

You can calculate the level of risk and can then act accordingly. If your risk level is low then you can take necessary measures to keep it as it is. If it is medium then you can start working for reducing the risk level first and then creating safety measures. If it is high then you need some impromptu action to stop it then and there and safeguard your information technology. There are various firms for IT risk assessment in Gurgaon from where you can get necessary help. If you want you can also get the security architecture review from Delhi NCR to understand the level of security you are having and how much effective it is. 
IT Risk Assessment Methodology Reviewed by Shubhi Gupta on 1:52:00 PM Rating: 5

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