Risk Analysis
Risk is the possibility of something adverse happening. Risk management is the process of assessing risk, taking steps to reduce risk to an acceptable level and maintaining that level of risk. Risk analysis should be performed to determine what is at risk when a disaster occurs. This should include such elements of a system as:
·Loss of data
·Loss of software and hardware
·Loss of personnel
Benefits of Risk Analysis
Here are some of the benefits that a business can gain by performing …showed first 85 words of 1406 total…
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…showed last 85 words of 1406 total…an example of a risk map:
Fig 4 Risk Map Source Roopendra (2002)
In the risk map above, the points indicate the probability and the impact of risks. For example point D might represent the probability of the impact of a terrorist bomb. As you can see from the above figure the probability of this happening is quite low but the impact of damage this will cause if it does happen very high.
This way you can categorize each risk according to its probability and its impact.
