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RISK ASSESSMENT STAGES - Coggle Diagram
RISK ASSESSMENT STAGES
Risk identification
Activities
Conduct a systematic review of networks, devices, systems, processes and operations to identify vulnerabilties and threats.
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Review historical incident data, audit reports, and industry threat intelligence
Outputs
Create an inventory of all identified risks with initial descriptions of what coudl go wrong, potential causes, and scale of likely impact.
Risk analysis
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Outputs
Risk analysis results show the likelihood, impacts and overall risk rating for each identified risk.
Risk evaluation
Activities
Propose which risks are acceptable to take with no
mitigation, which to take action against, which to
shift the risk to third parties (outsourcing,
insurance) and which to avoid by ceasing that
activity completely.
Consider regulatory, legal and contractual
obligations that influence risk acceptability.
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Output
A prioritised lists of risks, indicating which risks exceed acceptable levels and require treatments and which can be accepted with current controls
Risk treatment
Activities
Develop risk treatment plans specifying actions,responsibilities including who will action each risk,timelines, and resources.
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