IT Risk Assessment

Diving Deeply Into Risk

If an audit tells the 30,000-foot story, an IT Risk Assessment is like a step-by-step narrated tour with the answers to all of the questions. The modern threat landscape is survival of the fittest and those who haven’t controlled their risks could go extinct. Using quantifiable, objective data measures of vulnerability, likelihood, impact, and control effectiveness is one key to success. Whether a specific application or business process or your entire organization, SynerComm takes the guesswork out of assessing risk. Our work spans many approaches including:

  • Payment Card Industry (PCI) Risk Assessment – DSS Requirement 12.1.2
  • Health Insurance Portability & Accountability Act (HIPAA) Risk Assessment – HIPAA Privacy & Security Rule + HITECH Act
  • NIST SP 800-30 Based Risk Assessments
  • Threat Agent Risk Assessment (TARA)
  • NIST Risk Management Framework (RMF)
  • Factor Analysis of Information Risk (FAIR)
  • Operationally Critical Threat, Asset, and Vulnerability Evaluation (OCTAVE)

Whether done for compliance or with real security in mind, a risk assessment can be a daunting process. Let SynerComm’s AssureIT team help guide you through the process. In addition, with SynerComm’s home-built Risk Assessment Application, we’ve taken the guesswork out of calculations.

Risk = Vulnerability x Impact. Find out why below…

AssureIT Risk Assessment Service Offering

Benefits of Our Risk Assessment Framework

Audit First Approach

At SynerComm, we believe in beginning with an audit-based security program assessment to understand the big picture of your company and security organization. This helps avoid looking at risk in isolation, because IT systems are intertwined across all areas of business.

Vulnerability x Impact Methodology

At SynerComm, we measure risk in terms of your business. From reputation and sales to financial and hard costs, we multiply the impact of an event times the vulnerability/likelihood of exploitation. This helps prioritize the most critical items, allowing you to take a proactive, systematized approach to managing risk in your organization.

Objective Data Modeling

Remove the human factor and measure risk objectively with our home-grown Risk Assessment App. Raw risks are scored based on the vulnerability and impact of a given threat against an asset or system. Residual risks are scored based on the effectiveness of your controls against a given threat. Our tool then allows for “what if” scenarios to evaluate potential risk reduction strategies.

Extensive Data Analysis

Often times, the inhibitor of information is information itself. In a risk assessment, the number of inputs could be unlimited and making sense of it is both an art and a science. At SynerComm, our consultants have felt this pain and said never again. Through extensive research and practice, our “Universal Data” is the secret that allows us to perform a complex analysis once and reuse it many times.
Information Security Lifecycle

Risk analysis is not an annual event, it is a continual framework for improvement. As vulnerabilities and threats change, so too must your approach to information security. This common Plan-Do-Check-Act (PDCA) model is known as the Information Security Lifecycle. Risk Assessments provide the “Plan” in PDCA.

  • Have we properly identified our areas of risk?
  • Can we classify the areas of important focus?
  • Can we quantify the impact of risk on our business?
  • Have we built systems to measure the outcomes of our work?
  • Do we have a rhythm to regularly repeat this cycle?