Risk Management

Risk management demonstrates you understand your threats and have plans to address them. It's a core requirement in most compliance frameworks.

Risk Register

Maintain a comprehensive risk register documenting:

• Risk description: What could go wrong
• Category: Operational, financial, compliance, technical, strategic, reputational
• Likelihood: Probability the risk materializes
• Impact: Severity if the risk occurs
• Risk level: Combined likelihood and impact assessment

[Screenshot: Risk Register] Placeholder: Risk table with categories and levels

Risk Assessment

For each identified risk:

1. Assess inherent risk: Risk level before controls
2. Identify controls: Which security measures reduce this risk
3. Assess residual risk: Risk level after controls applied
4. Determine treatment: Accept, mitigate, transfer, or avoid

Risk Treatment

Document your treatment approach:

• Mitigate: Implement controls to reduce likelihood or impact
• Accept: Document conscious decision to accept the risk
• Transfer: Use insurance or contractual terms
• Avoid: Eliminate the activity causing the risk

[Screenshot: Risk Treatment Plan] Placeholder: Risk detail showing treatment strategy and linked controls

Linking to Controls

Connect risks to the controls that address them:

• Shows how your security program reduces risk
• Demonstrates risk-based approach to compliance
• Creates traceability from threats to protections

Next Steps

• Implement security controls to treat risks
• Document incidents when risks materialize