Security Expert | Risk Analysis


Webster's Dictionary defines "risk" as "the chance of injury, damage or loss."

Risks are essential elements of our culture, which cannot be disregarded as simply chance

occurrences. Risks must be viewed as reality but each risk is not necessarily inevitable.

In the present context we are viewing risks in terms of three categories of assets:

personnel, property and liability.

The risk analysis process incorporates the following tasks:

- Identify the assets in need of protection.
- Identify the kinds of risks that may affect the assets (internal theft, external theft, assault, loss of proprietary information, etc.).
- Determine the effect or impact if a loss occurs.
- Determine the probability of risk occurrence.
- This is not an exact measurement but an effort to project a range of probability.

The goal of the risk analysis is to reach an economic balance between the impact of the

risk (loss) on the company and the cost of protective measures.

The ultimate success of the risk analysis will be very dependent on the role of top

management in the process. Management must support the project and make this known

throughout the organization.