What is Enterprise Risk Management?

Risk management is essential to any enterprise setting, and there are several types of risks that must be managed to ensure that an organization is maximizing its value for its stakeholders. Enterprise risk management helps an organization to establish a framework for risk management. This involves identifying events and circumstances that can affect both risks and opportunities for the organization, and determining the likelihood and severity of those events or circumstance and how best to respond. Some of the largest risk threats in enterprise risk management include rapidly shifting compliance and regulatory mandates, market volatility, budget uncertainty, people, technologies, operational processes, and information complexities. One of the major risks that falls under several of these categories is data management, and data management consulting is vital to the risk assessment of any organization.

Given the large amounts of data that are handled by organizations today, data management consulting is an absolute necessity in order to properly manage risk. Enterprise risk management is itself evolving to meet the needs of stakeholders who would like to understand the risks facing complex organizations. Stakeholders want to make sure that these risks are being managed properly, and data management consulting can help an organization ensure that the risk of enterprise information management is being managed properly.

Data management consulting can consist of several different enterprise IT solutions, but the one that deals with some of the largest risks are managed security services. Managed security services are comprised of information security services that are outsourced to a service provider (known as a managed security services provider) by an organization. Managed security solutions provide an organization with ’round the clock monitoring and management of any network security issues that may arise. Managed security services providers allow an organization to focus on its own activities without having to worry about network security issues, and the relationship between the MSSP and client is not of a turnkey nature. Data management consulting solutions will help provide managed security services that will keep your organization from having to be concerned with network security.

All the risk management in the world may not be able to prevent an organization from going offline. However, this type of disaster can (and should) still be planned for. Creating an actionable business continuity plan can improve an organization’s resilience and help avoid risks that could take the business offline for days.