What is Risk Assessment and Risk Analysis?

Simply stated, Risk Analysis is a process used to determine whether your security controls are adequate, appropriate, and cost effective. In other words, are you as prepared as you think to deal with possible security-related risks from internal or external threats?

A Risk Analysis Assessment is designed to help a client to accurately determine the best mix of products and systems to optimally enhance the client’s physical security situation. This audit consists of inspecting the client’s site, premises and existing physical security systems to identify shortfalls, with an eye to finding solutions to remedy vulnerabilities.

Before conducting such an audit, the consultant first assess the level of 6 specific threats to the client, in order to frame their subsequent recommendations in the correct, most effective context. This context maximizes the consultant’s chances of identifying the most real and pressing vulnerabilities to the client in their actual priority, and coming up with the right solutions.

Here are the 6 threats to home or business to be considered:

  • Environment

  • Location

  • Infrastructure

  • Building Condition

  • Human Resources

  • Budget

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By taking these 6 threats into account before beginning the assessment, the consultant will be in the right frame of mind to do the Risk Analysis Assessment accurately, and in line with physical and economic reality.

Having such context improves the chances of the client being receptive to the results, and the solutions derived from the valuation being effective and appropriate.