Information Security Solutions - Paramount Computer Systems in Dubai, Abu Dhabi, Bahrain, Kuwait and Qatar
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Risk Assessment and Mitigation
What is this service?
Risk assessment is a process to ensure that organizational controls are rightly implemented to address every risk. Risk assessment can be defined as a process of identification, measurement, and quantification of risks to ensure that maximum effort is provided to address those areas of greatest risk exposure. The Paramount Risk assessment service provides a comprehensive analysis of every risk associated with operations and business. Risk assessment and management process Ensures the efficient allocation of limited resources and take informed decisions to manage the security in a more practical, realistic and manageable way.
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Why is this services required?
Every business is associated with risk but recent developments in the information technology space have introduced new concerns in confidentiality, integrity, availability and accountability at the organizational level. The risks to the business have increased immensely due to the dependence on Information assets and hence the need for Information Risk Assessment. Performing a risk assessment is a complex and often confusing endeavor but arriving at an accurate risk profile is an equally herculean and essential task. The assessment of informational risk depends upon various business related factors such as nature of the information and systems, purpose for which the information is used, environment in which the system is being used and protection provided by the controls already in place. The final objective of risk analysis is to identify the risk and subsequently manage or mitigate the threats and vulnerabilities that create the risk.
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Customer Benefits
    Some of the benefits that an organization gets from performing risk assessment are
  • Identification and quantification of risks to the business and operations
  • Maximisation of return on security investment
  • Prioritization of tasks, personnel and resources
  • Early detection & eradication of risks during acquisition & expansions of business
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Service Delivery Process
The risk assessment process is no easy task and makes use of various independent tasks such as Asset valuation, Vulnerability assessment, Threat assessment etc. Paramount has an extremely effective way of assessing risks to your information and business which is proven, consistent, comparable, repeatable and most importantly easy to deliver once developed. There is no right or wrong method in risk assessment as long as it fits the business needs and Risk assessment methodology can be qualitative, quantitative or semi-quantitative. Paramount follows a phased approach in conducting risk assessment which is independent of risk assessment methodology but covering every aspect of business, IT and operations.

PARARA™ - Risk Assessment Approach

    Scope and Plan
  • The identification of scope, planning, resourcing and scheduling.
    Information Gathering
  • Gathering data related to information assets and processes under the scope
    Risk Assessment (Knowledge based assessment)
    Asset Identification, Classification and Valuation
  • Deriving asset classification criteria
  • Developing asset valuation criteria
    Vulnerability Assessment
  • Penetration testing and automated tool based vulnerability assessment
  • Process based vulnerability assessment and manual assessment
  • Network and security architecture review
    Threat Assessment
  • Identification and assessment of internal and external threats to the informational assets and to the business
    Risk Assessment
  • Deriving a risk assessment methodology which acts like an empirical formula
  • Determination of likelihood of occurrence of incidents and risk assessment using the approved methodology
    Risk Management
  • Determination of acceptable risk criteria
  • Development of risk management plan
  • Program management of risk mitigation tasks
  • Re-evaluation of risk after mitigation or management
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Deliverables
  • Critical asset register – Consists of asset classification criteria & valuation matrix
  • Risk Assessment Methodology – Detailed methodology to be adopted for Risk Assessment
  • Vulnerability and Threat Assessment Report – A detailed report on vulnerabilities and threats detected
  • Risk Assessment Report – A detailed risk assessment report projecting risk to information assets
  • Risk Mitigation plan – Recommendations on mitigation and schedule
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