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Nagan Research Group LLC |
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Risk Assessment - An Overview |
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Risk Assessment: Organizations face risks in virtually every area of their business. Especially as they grow and expand. Why? Because no company is an island and operates with:
· Multiple elements · Multiple partners · Multiple geographies · Multiple political environments · Compounded by performance and cost pressures
This creates a complex, multifaceted problem that evolves and changes in real time. Unfortunately much current effort is devoted to improving process and performance with inconsistent appreciation of the risks that accompany such improvements.
A Supply Chains Example— When improvements begin a supply chain can become less vulnerable as efficiency improves.
However, at some point improvements in efficiency bring ever increasing vulnerabilities. The objective is to understand when improvements dramatically affect vulnerabilities.
NRG technology creates a strategic level assessment approach for supply chains that is: Easy to use, Applicable to broad range of issues, clients and industries, Focused on identifying strategic level risk and security issues providing guidance to address the issues found, Repeatable, Adaptable and evolves with change, and economical.
NRG has also created protocols that addresses IT, Internet and cyber risks. Currently these protocols assesses over twenty different aspects of risks. ranging from the legal issues in contracts and intellectual property through the myriad technical issues of networks, viruses and data management and protection. Examples of the areas covered are:
Intellectual Property, Copyright, Trademark, Patent, Privacy, E-mail, Encryption, Contracts, Credit Cards, Data Protection, Environmental Concerns, Network Management, Network Access, External Networks, Data Management and Access, Viruses, Management, and Technical Disaster Recovery
Our commitment is that our protocols will evolve in step with the risks and issues that arise in the ever changing world we operate in.
There are multiple advantages of using NRG protocols:
· You can rationally establish priorities and a more effectively allocate resources across your entire organization. · You will spend less on a protocol assessment than alternative approaches, allowing you to allocate the cost difference to fixing instead of finding. · You have the potential to recover the cost of a Nautilus protocol assessment if your insurance underwriter agrees to fund the assessment as part of your purchase of necessary coverage. And you may find gaps in your coverage that you need to address.
NRG protocols change the breadth, scope, time frames, and costs of risk assessment. They let you move money from assessment to remediation and establish priorities and allocate resources based on the full range of risks you face. They provide a better way to address evolving risks. If you would like a strategic approach to your risk assessment contact us at 203-987-8946 or drop us an email by clicking here. |
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