Risk Assesment Services
Potential risk scenarios are identified and review...
Potential risk scenarios are identified and reviewed without incorporating impact or mitigation judgments. Our experience shows that risks are best identified assuming there are no controls in place, or that controls will fail in some manner. Doing so provides a more robust risk assessment and allows clients to better evaluate whether existing controls/procedures are current, effective, and/or applicable.
Generally, the results are presented by using a two-dimensional matrix (frequency and severity) with definitions that are established using client-defined risk management benchmarks. Reflecting the risks in a frequency/severity context allows clients to better identify appropriate risk reduction/mitigation solutions.
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