Summary

At the beginning of this chapter, we learned about risk assessment approaches and the best ways to address risks. We then learned about risk assessment methodologies and industry-wide risk assessment frameworks. Each organization has unique requirements for risk assessment and each risk analysis needs a different skill set; therefore, the risk manager needs to understand the current maturity and choose a risk analysis technique that will be suitable for them. In the next section, we switched gears to learn more about the actual risk assessment techniques that the organization can use and the importance of maintaining an effective risk register after the risk assessment is complete. The risk manager can opt for different techniques before settling on one or perhaps use a combination of these techniques to understand the risks from different perspectives. The risk register should be a live document and should be updated whenever the risk changes due to internal or external factors...