“Even after thorough planning and execution, some risk remains. Remember not to ignore it! “
Glenn Baruck, The eDot Family of Companies
Risk management is essential to any business operation, particularly regarding security. While companies strive to mitigate all potential risks, there may still be residual risks that remain even after implementing all possible controls. In such cases, defining and managing residual risks becomes necessary to ensure they do not become significant threats to the business. These situations are where the concept of residual risk comes into play.
In this blog post for securityinfowatch.com, author Ray Bernard looks at residual risk and discusses how to define and manage it effectively. We will explore what residual risk is, why it matters, and the impact it can have on an organization. We will also examine the different approaches to managing residual risk and provide tips for developing an effective residual risk management strategy. By the end of this post, you should better understand residual risk and be better equipped to manage it in your organization.