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InfoSecurix offers a comprehensive risk assessment service that adheres to the ISO31000 standard, utilizing the Failure Modes and Effects Analysis (FMEA) methodology. This service is meticulously designed to identify, evaluate, and prioritize risks associated with your organization’s assets, both before and after the application of mitigation strategies.
Our initial step involves a systematic review of your critical assets. We identify potential failure modes for each asset, considering various factors that could lead to security incidents or breaches. This meticulous process uncovers vulnerabilities that might otherwise remain hidden.
For each identified failure mode, we evaluate the inherent risk by analyzing the Probability of occurrence, the Impact on your organization should the risk materialize, and the Detectability or the likelihood of prior detection before the risk causes significant damage. These three dimensions are carefully quantified to understand the severity of each risk in its untreated state.
With the inherent risks mapped, we formulate targeted mitigation strategies for each failure mode. Our interventions are designed to reduce the Probability, lessen the Impact, or enhance the Detectability of risks.
Once mitigation strategies are provisionally in place, we reassess the risks. This reassessment provides a clear picture of the residual risk – the level of risk remaining after planned controls are applied.
Using the revised values for Probability, Impact, and Detectability post-mitigation, we calculate the Risk Priority Number for each failure mode. The RPN is a critical metric that helps prioritize risks, guiding your organization in resource allocation and further risk treatment actions.
Leveraging the RPN, we work with you to prioritize risk treatment actions. This ensures that the most critical risks are addressed promptly and effectively, aligning with your organization’s risk appetite and compliance requirements.
Our comprehensive risk assessment report not only documents the entire FMEA process but also provides a clear and actionable plan for ongoing risk management. This document serves as a vital tool for stakeholders to understand the risk landscape and supports informed decision-making.