What is Cyber Risk Management

Risk management is a fundamental component of any successful organization and has been since the dawn of corporations as we know them. The primary function of risk management as a whole is to allow business leaders to determine the best course of action based on the probability of a given outcome and the possible detriments that decision. As businesses have embraced more and more technology, risk management has had to evolve to oversee not just traditional forms of potential risk – operational, strategic, financial – but also the risks associated with this new wave of digital transformation. As organizations have digitized, cyber risk management (CRM) has become a pillar of an effective risk management strategy.

*** This is a Security Bloggers Network syndicated blog from CyberSaint Blog authored by Justin Peacock. Read the original post at: https://www.cybersaint.io/blog/what-is-cyber-risk-management