Understanding Your Risk Exposure
Risk management is all but well-understood in the IT industry. Risk management, the continuous process of identifying and addressing risks, is no easy task for even the larger corporations. Identifying, monitoring and managing risk can become tedious, expensive, time-consuming and completely ineffective effort if resources aren’t applied appropriately.
The harsh realities of today’s evolving threat landscape, coupled with resource restrictions, and compliance requirements can create numerous challenges for any business.
Companies cannot afford to ignore the need for a solid risk management strategy and ongoing process for managing risk.
Measuring and Analyzing Risk
But how do you get a handle on your company’s current risk exposure? Relying on broken tools, gut instinct and emotion is no longer enough. Is it possible to accurately measure the probable frequency and impact of loss scenarios that could occur within your environment?
How can you quantify it? How can you justify investments in staff and resources to proactively protect your enterprise assets? What actions should you take once you understand your risk?
The team at Oxford Consulting Group can help you address these questions and quantify the impact of your risk exposure.
Factor Analysis of Information Risk (FAIR™) Consulting
Oxford Consulting Group approaches enterprise risk assessments by leveraging the FAIR™ (Factor Analysis of Information Risk) methodology. FAIR is a framework of interconnected models that describe how key elements of the risk landscape work. These models not only break down the components of risk, but allow of any organization to intelligently, consistently and quantitatively measure and analyze risk. Through our FAIR assessments, we’ll help you:
- Identify risk and quantify its impact
- Determine which aspects of the risk landscape are exposed to the most risk
- Systematically categorize data
- Perform sophisticated “what-if” analyses
- Determine which parts of the landscape will significantly increase risk or reduce it as changes occur
- Develop and analyze risk metrics
Our FAIR Consulting Services
Our FAIR professional consulting services include the following:
- Baseline risk landscape analysis
- Threat community identification
- Development of loss analysis tables
- Risk management capabilities analysis
From these analyses we deliver detailed recommendations that empower our clients to make well-informed business decisions based on their risk tolerance.
In addition, we can conduct periodic reviews of your risk management strategy to analyze the ongoing effects of people, process and technology changes within your environment.
FAIR Overview and Analysis Training
Through our FAIR training sessions, we can equip key individuals in the organization with the ability to understand, monitor and quantify risk leveraging the FAIR risk taxonomy. A typical audience might include members of senior management, line of business managers, IT administrators, Internal Auditors, IT Security Analysts and others with functional knowledge of risk assets. Our FAIR workshops include the following:
- An onsite FAIR orientation workshop
- Our FAIR overview and analysis training sessions prepare attendees with the background and practical experience needed to competently execute FAIR risk analyses.
Your Trusted Partner for Enterprise Risk Management Services
Maintaining a steady balance between minimizing risk, maintaining security, and meeting regulatory demands requires partnering with a trusted firm, with top quality services and remarkable expertise. Contact us today for the expertise, tools and resources your company needs to effectively identify and manage enterprise risk.
