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Business Continuity, Crisis Management & Information Security Solutions


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Risk Evaluation and Control

Risk Evaluation and ControlRisk evaluation and control involves the process of identifying, prioritising and managing the risks that an organisation faces. Cambridge Risk Solutions can assist with each stage of this process, bringing the benefit of an objective viewpoint and years of experience.

Identifying Risks

There are numerous sources of information on risks, including:

  • The “UK National Risk Register”;
  • “Community Risk Registers” for each area of the UK;
  • Health, Safety and Environmental risk registers within your organisation;
  • Annual Reports and Accounts from companies in your sector; and
  • Media reports of incidents.

Prioritising Risks

Having identified the risk to your organisation there are 4 fundamental responses to each risk, known as the “4 T’s”:

  • Tolerate the risk as it is;
  • Transfer the risk ie buy insurance to mitigate the financial losses
  • Treat the risk ie take practical steps to reduce the likelihood of the event occurring and/or mitigate the impact if it should occur; or
  • Terminate the activity that gives rise to the risk.

The budget available for risk management will never be sufficient to transfer or treat all the risks that face an organisation. Senior Management must therefore prioritise which risks they will actively address; methods for prioritising include:

  • Probability and Impact tables;
  • Monte-Carlo modelling; and
  • The Precautionary Principle.

Remaining risks must either be tolerated or teminated.

Managing Risks

Often the best-intentioned efforts at reducing a risk simply move the problem elsewhere. For example in the year after the wearing of crash helmets was made compulsory in the UK, there was an increase in motorcycling fatalities: the positive impact of reducing the specific risk of serious head injuries was offset by people riding more recklessly and therefore sustaining other fatal injuries. Care must always be taken that the method of risk treatment adopted does not unintentionally create new risks which may be harder to manage.

Follow the link to see a Risk Evaluation and Control case study.

Get In Touch

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When we decided to go for accreditation to BS25999, we knew we would need outside help. We chose Cambridge Risk because they represented the best balance of professionalism and pragmatism.

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  • Business Continuity Planning

    Effective planning that takes into account risk evaluation and business impact analysis, supported by clear and concise crisis management. We work with you to develop user-friendly plans.

  • Business Impact Analysis

    The Business Impact Analysis (BIA) is one of the most important, and least well understood, stages of the Business Continuity Management Lifecycle; we can assist with your BIA.

  • Training and Exercising

    No Business Continuity Management programme is effective without a significant element of training. Moreover, ongoing Crisis Management training and exercising is key. We can provide objective training and exercising.

  • Risk Evaluation and Control

    Risk evaluation and treatment provide a process to identify, prioritise and managing your risks. Cambridge Risk Solutions can assist with risk management for business operational and information security risks.

  • Statement of Applicability

    Which controls do you need to have in place? How do you link your risk assessment process into your SoA? How do you ensure that you have effective controls in place? We can assist with your SoA.

  • Integrated Management Systems

    Management Systems assist with your on-going management, maintenance and continual improvement. We work with you to develop a fully integrated management system, enabling certification to ISO 22301 and ISO 27001.