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Security risks in information technology (IT) are identified and evaluated through a IT risk assessment so that measures can be taken at an early stage and threats can be averted. IT risk assessment is intended to support IT experts and information security officers in reducing vulnerabilities that can harm information architecture and business assets.
An IT risk assessment Checklist is used by IT staff to identify potential cybersecurity vulnerabilities and minimize the risks to organizational operations. If an emergency is underway, utilising an IT Business Continuity template to ensure operations continue is advised.
Every company should know the threats and vulnerabilities that threaten their information security on a daily basis. The IT risk assesment is carried out in several phases in succession:
1. Identification of IT risks
2. Assessment of the probability of occurrence
Once an IT risk has been identified, the probability of occurrence is determined in more detail. What are the possible effects and consequences? For example, the authenticity and confidentiality of data or the loss of important system functions may suffer. Possible damages are: Company reputation, loss of image, costs for repairs, legal disputes, etc.
3. Assessment of the consequences and possible damage
The actual IT risk results from the manipulation of the probability of occurrence and the amount of damage.
4. Determination of the total extent of the damage
In an IT risk assessment, a distinction can be made between qualitative and quantitative evaluation. The qualitative IT risk analysis tries to get an overall impression of a certain risk. The quantitative IT risk analysis uses a numerical scale for IT risk assessment.
IT experts and security officers should consider the following points when performing an IT risk analysis:
Weak points and new threats regularly occur in IT security. Companies must be proactively searching for the weak points and be aware of new threats if they want to keep up with the constantly emerging dangers. Time-critical risks may require immediate action. A paper-based IT risk assessment checklist is therefore a bad choice if threats are to be averted in time.
In this case, the solution is a digital technology with which weak points can be immediately detected and countermeasures can be initiated. The following are some of the advantages of Lumiform's digital solution: