Evaluate your current system capacity and performance and then identify with a business impact assessment what could happen in the event of severe disruption or failure of the system, along with what the recovery requirements would be.
Managing risk in IT systems means thinking logically and strategically about how you can:
- reduce risk
- transfer and share risk
- prepare for potential problems and put in place strong management controls
- respond and recover efficiently
For example, you may be able to reduce risk through staff training, transfer or share risk by using a cloud provider to store your data, and prepare for problems by getting cyber insurance and writing a plan to follow in the event of each risk becoming a reality.
You'll also need to consider the unknown risks – new threats or problems that you can’t yet identify. How will you keep yourself informed about emerging risks and what to do about them?