According to Wiki Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including cyber risks, cyber theft, identity theft, uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary – competitor or even spouse, or events of uncertain or unpredictable root-cause.
They can also be attacks from a source that tries to steal information from a company or private individual for example trough listening devices known as eavesdropping devises. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities.
Broadly speaking: Risk assessment is the combined effort of:
1. identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. risk analysis); and
2. making judgments “on the tolerability of the risk on the basis of a risk analysis” while considering influencing factors (i.e. risk evaluation).
Put in simpler terms, a risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to “introduce control measures to eliminate or reduce” any potential risk-related consequences.
* Proven risk management specialists
* Global resources and reach
Investing in being resilient today ensures you protect your business and it’s operations in the future. NSI assists our clientele around the globe to build resilience through an understanding of risks and vulnerabilities that pose a threat to business continuity.
Organisations need to move beyond traditional risk management that usually focuses on specific risks individually. Thinking of risks as a whole allows a coordinated approach to optimise the said risks. At NSI, we use a holistic approach that focuses on all aspects of your security and operational risks to provide our clients with full protection. Our varied skill-set and global resources and reach empower our specialists to manage projects from beginning to end.
From improving Identity Theft Australia for international clientele to assessing risks for corporate travellers, to creating business continuity planning and disaster recovery programs, our holistic approach to risk management and resilience helps clients prioritise capital projects, protect vulnerable assets and achieve sustainable growth.
NSI Global Counterintelligence helps to help identify external and internal threats to physical assets, data and intellectual property, to information and espionage-related risks, as well as vulnerabilities that exist within them. We then provide our clients with systems and methodologies to properly assign a value to the risk. By enumerating these risks and threats, our clients ultimately lower their costs and we assist them in developing an effective risk management plan based on our 5 pillar risk strategy which will help improve resilience and provide peace of mind to our clients. We will show you where you are most at risk, then help you lessen and protect against these risks.
Preparing for disasters is a vital part of our service. We educate clients on its importance to their core investment strategy and the business case for resilience. Every decision must consider the interplay between natural, human, economic and social systems to protect assets.
When disaster strikes, we respond quickly. Following major incidents such as economic collapse, cyber-attacks, severe weather, fires, earthquakes and criminal attacks, we provide infrastructure damage assessment, forensic evaluations and a range of physical, cyber, information, security, and espionage risk support so as to provide rapid recovery and a return to normalcy.
NSI Global Counterintelligence helps clients to protect their people, information, assets and reputation trough informational, operational, cyber, business and espionage risk management.