A risk assessment is one of the most comprehensive ways that a company’s decision-makers can get the information they need to evaluate the potential risks and threats to their organization. A risk assessment allows you to make educated and informed decisions about what actions you’ll need to take to reduce your risks or eliminate threats.
Businesses in all types of industries conduct risk assessments for different reasons. Banks might conduct a risk assessment to manage their risk of defaults on loans. Nuclear power plants might do a risk assessment to manage risks to public safety. As more and more companies across industries are relying on computers and security, IT risk assessments are becoming standard for governments and private businesses.
No matter what type of risk is being investigated, all risk assessments include identifying threats that could affect a company or organization’s critical operations and assets. These can include a range of things, including criminals and intruders, terrorists, disgruntled employees, and even natural disasters. Anything that could harm a company’s critical operations is a risk.