Risk Management, Risk Assessment, Risk Remediation: What are the differences?
‘Risk assessment’, ‘risk management’, and ‘risk remediation’ are often tossed around as synonyms, but that doesn’t mean the words are interchangeable. They are all critical terms when it comes to addressing security vulnerabilities.
Risk management is the umbrella category risk assessment and remediation fall under. It is the macro-level process of assessing, analyzing, prioritizing, and making a strategy to mitigate threats. As a company grows and becomes a bigger target for bad actors, it’ll need to invest more in risk management to stay secure.
Risk assessment is a process within risk management: the goal here is to break down threats into identifiable categories. A risk assessor should then be able to define the potential impacts of each risk. The first step of risk assessment is always monitoring and visibility, all to assess what will harm your business. Assess your risk for free today with Vulcan Free.
The last mile in the risk assessment and management process is risk remediation. In simple terms, this is getting fix done. Risk remediation is addressing the threats you’ve identified, patching those holes in your security. It’s the final mile of the whole process. After all, why bother to identify all those threats and not do anything about them? Vulcan remediation intelligence is aimed at finding just the right patch, script, or workaround for the problem.
Each stage in the life cycle of addressing security vulnerabilities is distinct, and they’re all equally important to go through. Learn more about the transition from risk management to risk remediation on our blog. Managing risk is an investment in the safety of your firm. That’s why Vulcan Cyber takes your unique risk profile into account as it helps you design a risk management, assessment, and remediation process that works best for your organization.