ITEM iQRAS

107 ITEM iQRAS v2.5.2 Understanding risk and having the right strategies in place when an incident occurs is becoming more evident and essential. More and more, organizations are faced with the need to measure and reduce their risks. A successful and effective approach to risk management critically depends on the ability to answer key questions: - How large are our risks? - What are the most likely risk scenarios and how severe would the consequences be? - What elements in our system or organization are the major contributors to risk? - How will our risk be affected by changes to the system or organization? - How confident are we about the answers to the above, and how can we increase our confidence? - Do you have to analyze multiple or single factors to address the uncertainties when reducing your risk? Do you consider such factors as: systems, processes, organization, people, communica