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information security manager do when the residual risk has not been reduced to an acceptable level?

information security manager do when the residual risk has not been reduced to an acceptable level - Related Questions

What is residual risk what can be done with the residual risk?

The residual threat, or residual risk, remains when every attempt has been made to find and eliminate the threat. Managing risk can be done in four ways: reducing, avoiding, accepting or transferring.

How would you determine an acceptable level of residual risk?

Based on the ALARP principle, a low level of residual risk could be an acceptable level of residual risk if the likelihood is low and the severity is low (i.e. a low level of likelihood for a large level of residual risk).

At what point in the risk management process is residual risk determined?

As implied risk, residual risk is the risk that remains after all known risks have been taken into consideration and eliminated, or in other words, after all the known risks have been taken into consideration and eliminated.

What does residual risk mean in the risk management process?

An individual's residual risk is the amount of risk left after controlling for all other factors. Your organization must take proper precautions before it should be at risk.

Is residual risk acceptable?

The residual risks are the ones remaining after the measures have been taken to mitigate the calculated risks; therefore, they are termed as acceptable risks. The accident won't cause any serious injury or death in the long run.

Can you reduce residual risk?

You can determine residual risk after you put controls in place by looking at the results of your assessment. It's either not possible to prevent it, or the available control measures are unreasonably low compared with the risk. Residual risk can't be completely eliminated, but as low as is reasonable should be the goal.

Can you eliminate residual risk?

You can determine residual risk after you put controls in place by looking at the results of your assessment. Residual risk can't be completely eliminated, but as low as is reasonable should be the goal.

How can residual risks be determined?

Taking the risk control effects out of the inherent risks (i.e. the potential loss of capital). Calculation of residual risk relies on evaluating risk without controlling it (i.e., uncontrolled risk). A third-party insurance company can take on the risk formally if this type of risk is transferred.

What is an acceptable risk and how would you determine this?

As a result of these factors, individuals or groups in society will be willing to and are thus subjected to the risk that the event may occur, whether it occurs with a very small frequency, or a very slight consequence or benefit (perceived or real).

What is a residual risk level?

An individual's residual risk is the amount of risk left after controlling for all other factors. Your organization must take proper precautions before it should be at risk. Rather than simply being the risks that remain after additional controls have been applied, residual risk represents those risks.

When residual risk is determined?

It represents the degree of a risk or danger that remains after an action or event has been subjected to risk control measures to reduce natural or inherent risks. As a general rule, risk is measured as the product of threats plus vulnerability or severity plus probability.

Why is residual risk important?

Clearly, residual risk needs to be mitigated in order to comply with ISO 27001 policies. Among the ISO/IEC 2700 family of best security practices, this standard is popular for quantifying the safety of assets before and after sharing them with manufacturers.

What is residual risk in auditing?

In terms of residual risk, it is the amount of risk left over after controls have been addressed.