Risk Management Report Example

While working on a project or conducting research, one may be assigned the peculiar task of writing a risk management report example. The essence of risk management lies in troubleshooting and risk prevention. Not only is the later concerned with preventing the former, but it also governs a wide range of human activities: from health safety to hazard prevention, from crime reduction to financial security. Any business strives to protect itself from any potential risks and losses. Therefore, a risk management report example is bound to enlighten the managing force on what steps should be taken in order to omit any issues and secure the company’s prosperity. First of all, it would be reasonable to explain the essence of risk management. Risk management is a disciple that sets the goal to prevent a potential issue from happening, rather than eliminating its implications. Risk management can cover a large variety of fields. It may involve fire security, construction safety, engineering plans, and securing the profits of a company. In any case, while the disciplines where risk management is applied may vary, its main methods and approaches remain the same. Its main principles involve: identification of the potential threat; critical assessment of the vulnerability to the potential threat; determining the actual risk of the potential threat likelihood; determining the measures required to reduce the potential threat likelihood. As a result, one may suggest the following example of a risk management report, which attempts to address the security issues of a computer network at an average accounting office. To: Management Staff From: Risk Management Officer Topic: Malware and Virus Threat Report Dear coworkers, as we know, the security of our computer network has recently been compromised by malicious software gained through third party web resources. Our work is largely dependent on our computers, therefore, if one would become out of service, the company would inevitably face a reduction in productivity. Therefore, a number of steps have been suggested to avoid further exposure in the future. Below can be seen the table of potential risks: Threat Possibility Losses in productivity Potential financial losses Malware Viruses Breach High 50% Up to 30% Network Security Breach Significant 50% Up to 90% Third Party Web Resource Consumption Critical 25% Up to 10% As one can see, the statistical data suggests that malware and viruses have the potential to hinder our profits. Furthermore, a compromised network may be susceptible to hacker attacks, leading to significant potential losses. Viewing third party resources on the job is also considered a threat to overall productivity. Therefore, a number of steps are suggested: Hire an IT specialist to set up and monitor network security; Install and configure sufficient network security software such as anti-viruses and firewalls on all machines; Forbid and block the use of third party web resources during the work shift; In order to summarize, the preventative steps described above should be sufficient enough to secure our company from losing productivity due to network breaching issues.