End of Year Risk Assessment: How to Do It and Why You Should

The end of the year is filled with performance reviews and product evaluations. Amid the hustle and bustle, don’t forget to complete an IT risk assessment to review your current infrastructure as you prepare for the coming year.

An IT risk assessment provides a comprehensive review of your company’s security risk and offers insight into the identification and prioritization of evolving threats. Having this knowledge readily available makes it easier to address and fix risk factors.

There is no one-size-fits-all when it comes to a risk assessment. Many templates and guides are available online, but because an assessment is not an audit, your organization has the freedom to determine the scope of the review. Some areas you may want to focus on include security risks, controls to address those risks, gaps in security, and recommendations to mitigate problem areas.

Keep these key points in mind to help you through your assessment.

Identify Your Need

Keep in mind that your focus is on identifying potential IT risks. The goal is to spot where you may have a gap in security or need to enhance your technology to prevent a serious problem later.

Test Your Current Operations

Once you’ve done the high-level review, it’s time to dig deeper into your security needs. Your IT team can run drills and make controlled attempts to find weaknesses in your security to gain access to your private information. This is an important learning exercise for your IT team to make informed, strategic decisions about how to enhance your cybersecurity.

Create An Action Plan

Once your research is complete, you’re ready to take a proactive approach to streamline operations, reduce downtime, improve overall performance and create a resilient business model. Regularly reviewing your IT needs gives customers confidence that your business is responsible for handling their information. Building trust leads to long-term success.

A cyberattack is costly, but completing a risk assessment can help you stay ahead of a data breach. Not sure where to begin? Call us today to get started.

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