Risk Analysis
What is Risk Analysis?
The systematic examination of risk components including threat sources, vulnerabilities, likelihood, and potential impact to understand and characterize risk.
Terms that appear alongside risk analysis
Each of these is named in at least one of the same controls as risk analysis. The number is how many controls name both.
- risk assessment 15 shared controls
- audit 13 shared controls
- vulnerability 9 shared controls
- compliance 9 shared controls
- integrity 9 shared controls
- availability 8 shared controls
- authentication 7 shared controls
- due diligence 7 shared controls
Frameworks that govern risk analysis
What the standards actually require on risk analysis
Requirements naming risk analysis across 6 standards, quoted from the control text.
As a minimum, the organization's risk analysis draws on lessons from product recalls, product audits, returns and repairs from the field, complaints, scrap and rework. Documented information is kept as evidence of what the risk analysis found.
iatf-16949-2016-quality-management-system-for-automotive-production::6.1.2.1 · 6.1.2.1 Risk Analysis →How often incident response personnel receive periodic training must be set out in a targeted risk analysis by the entity, carried out according to all elements of Requirement 12.3.1.
12.10.4.1 · 12.10.4.1 Responder training frequency set by targeted risk analysis →Establish and maintain a program of risk analysis and oversight covering operations and automated systems, to identify and minimise sources of operational risk through appropriate controls and procedures and through systems that are reliable, secure and have a...
CFTC-SS-1 · Program of Risk Analysis and Oversight →Combine likelihood and impact determinations to assign a risk level to each threat and vulnerability pairing using a defined risk matrix.
RA-RISK · Risk Analysis: Determine the Level of Risk →Identify and classify hazards and RAM equivalents, select risk acceptance principles, define and apply risk acceptance criteria, assess risks and establish on-going risk management. Risk assessment per 6.3 covers the system definition too;
en-50126-en-50128-en-50129-railway-applications-rams::50126-1:7.4 · Phase 3: Risk analysis and evaluation →LkSG Sections 4-5 - risk management system + risk analysis. SECTION 4 RISK MANAGEMENT SYSTEM: companies must establish an APPROPRIATE + EFFECTIVE risk management system to identify + prevent + mitigate + remediate human rights and environmental risks arising f...
LkSG-Sec4-RiskMgmt-Sec5-RiskAnalysis · Section 4 Risk Management System + Section 5 Annual Risk Analysis →Questions people ask about risk analysis
What is Risk Analysis?
Why is Risk Analysis important for compliance?
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Where can I learn more about Risk Analysis?
See how Risk Analysis applies across compliance frameworks
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