Every organization brings with it a set of unique risks. A car dealership will face different risks than a bakery, or a construction company. We want to get an in-depth knowledge of what risks and threats face your business, with the mindset of preventing these things from developing in the future.
A Threat and Risk Assessment (TRA) is the process of managing risk by evaluating current standards, supplementing these standards where necessary, and eliminating unnecessary spending and administrative barriers. This process ensures that effective steps are taken to protect your business.
Managing a security risk means defining what that risk is, assessing its scope, and determining what to do about it. Options for managing risk include reduction, transfer, avoidance, and acceptance. A completed TRA allows for an informed decision to be made to manage a risk.
A TRA involves a minimum of the five following steps:
To determine the goal and scope of the TRA, our team will work with stakeholders from your organization. We’ll need all reference materials and information necessary to get a comprehensive idea of your organization, its needs, and current state.
Our team will identify what needs to be protected by completing an inventory of assets and assessing their worth. We’ll also complete a statement of sensitivity that identifies the confidentiality, integrity, and availability requirements of these assets.
Threat Assessment Stage
Our team will identify potential and real threats to the organizational infrastructure or process. Threat identification and threat likelihood are the key goals of this stage.
Risk Assessment Stage
The assessment of risk will be produced, based on how effective existing or proposed asset protection is against the threats identified in stages two and three. During this stage, vulnerabilities will be identified and evaluated, and a risk analysis will take place.
Our team will give you detailed recommendations based on the conclusions of the risk analysis. This stage will also outline the addition, modification, or removal of safeguards to reduce risk to an acceptable level. These recommendations will identify risks remaining after implementing the proposed solutions.
Call us at 780.490.6744 or fill out the form below to discuss how we can address your business’s unique risks.