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Winter Journal

Volume 30, Issue 4

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Monday, 25 September 2017 16:00

Risk Management and Proactively Dealing with Threats

What’s the difference between a risk, a threat, and a vulnerability? This is worth knowing, because if you can spot the risks in your enterprise and mitigate or eliminate them, you might not have to worry about associated threats.

Proactive action like this can keep your enterprise safe and secure, without having to worry (unduly) about changes in finance, sales, production, IT, or others.

So, the first thing to understand is the definition of each term and how they relate to each other.

A handy way of understanding the relationship between risk, threat, and vulnerability is the following simple equation:

Risk = Threat x Vulnerability x Impact

Now, a threat is something you cannot control. Cyber criminals threaten the security of your systems, while a hurricane threatens power supplies, for example.