Risk and Vulnerability Management in the Organization

RISK AND VULNERABILITY
MANAGEMENT IN THE ORGNAIZATION

RISK:
Risk is he the unpredictable event happened during
the course of the development of the project or event.
There are two types of risks:
Positive Risk: Responsible for creating the new
opportunities for the organization or the project.
Negative Risk: Responsible for creating the constraints.

MITIGATION OF THREATS AND VULNERABILITIES OF
THE RISK IN THE ORGNAIZATION:
There are various ways for the mitigation of the threats from
the risks in the organization. Of these are-
Identification of the risk: This can be done in the risk analysis phase.
The issues and the challenges for the organization is needed to be
identified in this phase.
Assigning priority for each risk: Assigning priority for each risk is
important as it will help in making the scheduling for the solving of
the risks.
These steps are helpful for the mitigation of threats from the risks in
the organization. All these steps are included in the risk management
planning.

MAJOR COMPONENETS OF
CONTINGENCY PLANNING:
Generally there are four components of contingency
planning. These four components are:
Business Impact Analysis (BIA): This component is concerned
about the impact of the risks on the business.
Incident Response Planning (IRP) : This component is concerned
about the taking the quick response if the sudden threat can appear
due to the risk is happened.
Disaster Recovery Planning (DRP): This component is concerned
about the restoring the whole system after the occurrence of the
risks.
Business Continuity planning (BCP): BCP is concerned about the
planning of the business in a simple way in case of the damage from
the risk has major impact on the system or the organization.