Risk Assessment and Risk Management By: Steve Drochek IV

Summary Risk assessment is the idea of assessing what you need to protect due to the risks associated with it.

3 Easy Steps 1) What are you trying to protect? 2) What are you protecting against? 3) What are you willing to spend to protect said items

Assessing your Assets! Tangible Intangible Hard Drives Computers Printers Modems Etc Intangible Knowledge of Key personnel Motivation of employees

Note on Assessing Consult a Lawyer on legal actions that are available Research common threats in the area, be it weather or other

Identify Threat Don’t just assume threats have to be people Natural Disasters Hurricane Flood Fires Earthquake Tornadoes You don’t need to protect for hurricane in Wyoming!

Identifying Threats cont. Building Structural Failure Other Building Maintanence Personal Care of Employees Backup for loss of key personnel Make sure someone else can do their job

To Sum up Threats Threats are things that will delay the production of your organization… Cost your organization a lot of money Some threats have the capability of totally shutting down your organization

Review your Risks Prioritize! Prioritize your risks so that you have the protection you need the most.

Rev. the Risks cont. Again, some risks can be detrimental to your organization Consider a loss and the cost of that loss Consider the probability of that loss Consider the cost of protection

Example If you would lose a lot of money in a few hours due to a power failure Get a UPS (Uninterruptible Power Source) If you wouldn’t lose a lot of money it is not worth getting a UPS Maybe just get battery backups for your systems so that you can save data.

Thanks for Listening! All in all, risk assessment and management is very important to a companies future as every company will experience some sort of loss, be it personnel or hardware. It is important to make sure you take the proper measures to protect your companies functionality.

Questions???