What is Risk Management?
Risk management is a systematic process of identifying, analysing and responding to project risk.' This may be broken down into a number of sub-processes :
Risk Identification
Qualitative Risk Analysis
Quantitative Risk Assessment
Risk Response Planning
Risk Monitoring and Control
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It is a structured approach to managing uncertainty related to a threat, through a sequence of human activities including: risk assessment,strategies development to manage it, and mitigation of risk using managerial resources. =====================================================================
describe the security manager's role in it.
The role of security in risk management :
Establish the context, which involves
-Identification of risk in a selected domain of interest -Planning the remainder of the process.
Mapping out the following:
the social scope of risk management
the identity and objectives of stakeholders
the basis upon which risks will be evaluated, constraints.
Defining a framework for the activity and an agenda for identification.
Developing an analysis of risks involved in the process.
Mitigation of risks using available technological, human and organizational resources.
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regards
LEO LINGHAM