When conducting a security risk assessment, we are trying to identify what are the most likely forms of threat, the associated risk of that threat and what measures can be implemented to mitigate that threat. When done correctly this analysis can ensure that funds and resources are correctly allocated to improve security infrastructure rather than wasting it on areas that are not needed, in other words, what are you protecting yourself (or your organisation) from? For an extreme example, the risk of a tsunami reaching and impacting a regional business in Alice Springs is fairly low, therefore there is no point in spending money on building anti-tsunami barricades around the building. This would be a very expensive and poor use of company money. This example may sound ridiculous but there is security infrastructure in place at many organisations that are not far off from this example….

In addition to avoiding wasted resources, a thorough security risk assessment can also help identify potential vulnerabilities within your business operations that you may not have even considered before. For example, a risk assessment may uncover a vulnerability in the building as a result of an unsecured loading dock door that leads directly into the back entrance of a sensitive office room containing sensitive information. By identifying this vulnerability, you can take steps to securing this door and even changing operational procedures within the office to ensure this area and sensitive information remains secure.

Another benefit of conducting a security risk assessment is that it can help you prioritize security initiatives based on their potential impact to your business. For instance, if a risk assessment reveals that your business is most vulnerable to protests, you can focus your resources on implementing stronger physical security measures. By doing so, you can reduce your overall risk exposure and prevent potentially severe security incidents.

In today’s age, security risks are constantly evolving, and it’s important to regularly review and update your security measures to stay ahead of potential threats. By conducting a security risk assessment, you can ensure that your business is well-equipped to protect against these threats and that your security investments are being made in the areas that matter most. So don’t wait until it’s too late – take the necessary steps to safeguard your business today and speak to one of our security specialists at Advisen.