Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. IT security threats and data-related risks, and the risk management strategies to alleviate them, have become a top priority for digitized companies.
As a result, a risk management plan increasingly includes companies' processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer's personally identifiable information and intellectual property.Every organization, entity, and individual faces risk.Some of these risks are inherent, and can only be addressed and mitigated.
Other risks are assumed and can be mitigated, subrogated, and sometimes even eliminated. The proper identification and prioritization of risk is essential to the creation of a risk management strategy and addressing all types of risk. Opsis is a risk management company, with extensive training and experience in risk management strategies.