Risk assessment and mitigation services: professional services that help organizations identify potential risks, evaluate their likelihood and impact, and then develop strategies to minimize or eliminate those risks, essentially protecting the organization's assets and ensuring business continuity by proactively addressing potential threats; it involves both analyzing potential dangers and taking proactive steps to manage them effectively. Risk identification: Identifying potential hazards and threats that could affect the organization, including internal and external factors. Risk analysis: Evaluating the likelihood and severity of each identified risk, often using qualitative or quantitative methods. Risk prioritization: Ranking risks based on their potential impact and likelihood of guiding mitigation efforts. Mitigation strategy development: Creating actionable plans to address each identified risk, including preventive measures, contingency plans, and risk transfer options. Implementation and monitoring: Putting mitigation strategies into practice and regularly reviewing their effectiveness to adapt to changing circumstances.
