Risk Identification

Effivity's Risk Management Module identifies risks from processes and information assets. This software provides a comprehensive approach to ensure nothing is overlooked in risk management efforts.

Struggling to identify all potential risks can leave gaps in security. Effivity streamlines the process by automating risk identification from processes and making them more reliable.

Risk Identification from Processes

Effivity enables you to thoroughly review your existing processes to identify potential threats and vulnerabilities. With this feature, you can:

Examine operational workflows for potential risks
Identify vulnerabilities in production methods
Assess administrative procedures for threats
Document all identified process-specific risks

Risk Identification from Information Assets

Effivity also helps you safeguard your information assets, without which your organization cannot function effectively. It enables you to create an inventory of information assets and assess their vulnerability to identify specific risks associated with each one. You can:

Catalog all critical resources, including databases, servers, and hardware
Evaluate the vulnerabilities of each asset
Document all identified risks comprehensively

Identify risks effortlessly with
Effivity's comprehensive risk identification tools!

Risk Analysis

Effivity's risk management module comes with powerful risk analysis capabilities. Using these, you can understand the potential impact and likelihood of the risks identified.

Difficulty analyzing past incidents and predicting future risks can lead to inadequate preparation and misallocation of resources. Effivity's predictive analytics and pattern recognition make risk analysis faster and more accurate.

Here are some ways it helps:

Review past incidents and data to uncover patterns and calculate the frequency of similar risks
Analyze current operational and environmental conditions to identify emerging threats
Use predictive analytics to foresee future risks and incorporate changes to avoid them

Assess the financial, operational, and reputational impact of each risk
Prioritize risks based on their severity by creating a risk matrix
Manage the allocation of resources to address the most severe risks first

Analyze risks accurately and prioritize effectively with Effivity's advanced tools!

Risk Evaluation

Once risks have been identified, they need to be evaluated. This helps you determine the level of risks and decide on what the next steps should be.

Inconsistent risk criteria can lead to subjective and unreliable evaluations. Effivity establishes clear risk criteria, making evaluations quicker and more consistent.

Effivity's risk evaluation functions include:

Establish risk criteria by defining your organization's risk tolerance and setting acceptable and unacceptable thresholds
Assess each risk under established criteria and analyze the potential impact of each risk
Decide on the acceptability of each risk based on your organization's risk appetite

Outline necessary actions for mitigating unacceptable risks
Set timelines and milestones for completing risk mitigation efforts

Evaluate risks consistently and comprehensively with Effivity's structured approach!

Risk Treatment & Identification of Controls

Risk treatment involves developing strategies to manage identified risks by reducing their likelihood and impact or by accepting, transferring, or avoiding them.
Controls are specific measures implemented to mitigate or eliminate risks. Effivity's Risk Management Module provides a structured risk treatment and control identification approach.

Developing and implementing risk treatment strategies can be complex and time-consuming. Effivity simplifies strategy development and implementation with clear, guided processes. You can:

Create avoidance strategies to modify processes and eliminate specific risks
Implement mitigation processes to reduce the likelihood or impact of risks
Transfer risks efficiently to third parties with clear documentation

Accept manageable risks within your organization's risk tolerance with the module's detailed risk evaluation and analysis
Identify and document effective controls using the module's comprehensive framework

Effivity comes pre-configured with 93 ISMS controls as per Annex A of the ISO 27001 standard that helps users to select the most appropriate control during risk treatment quickly and easily. A detailed description of each control makes understanding and application of the control seamless for all uses.

Treat and control risks effectively with
Effivity's structured solutions!

Generation of Risk Treatment Plan

A risk treatment plan helps you systematically address identified risks for an effective ISMS. It outlines all the actions required to mitigate risks.

Creating detailed action plans can be daunting and prone to oversight. Similarly, manual tracking of plans can lead to delays and missed deadlines. Effivity's detailed action plan templates ensure comprehensive coverage and automate the entire communication process.

With this module, you can:

Document detailed action plans for each identified risk and specify the steps needed for mitigation
Communicate the risk treatment plan effectively across your organization using the module's integrated communication tools
Receive notifications and reminders about upcoming deadlines and important updates

Allocate tasks efficiently by assigning responsibilities to the appropriate individuals or teams within the module
Ensure follow-up and accountability with built-in tracking and reporting features that monitor the progress of risk treatment actions

Develop and track risk treatment plans
seamlessly with Effivity's tools!

Evidence of Actions for Risk Treatment

Risk management is possible only if you have clear and verifiable evidence of the actions taken to address and mitigate identified risks. This evidence helps you demonstrate compliance with information security standards and ensures accountability and transparency.

Documenting actions comprehensively can be labor-intensive, especially when done manually. Effivity automates documentation, saving time and ensuring thoroughness.

This module allows you to:

Document all risk treatment activities meticulously
Store and organize evidence in a centralized repository for easy access during audits and assessments

Track and update the status of risk treatment actions regularly so that all documentation remains current and accurately reflects ongoing risk management efforts

Document and verify risk treatment actions
effortlessly with Effivity!

Regular Monitoring & Risk Re-Assessment

Once actions have been taken to mitigate risks, you must continuously monitor and reassess these risks to adapt to changes in your organization's risk environment.

Keeping up with emerging risks and changing conditions can be overwhelming and evaluating the effectiveness of controls requires constant vigilance. Effivity's regular review features ensure new risks are promptly identified and assessed.

Effivity's Risk Management Module supports ongoing risk management efforts by enabling you to:

Conduct regular reviews of the risk environment and ensure that new and emerging risks are identified and assessed promptly
Evaluate the effectiveness of implemented controls, monitor their performance, and implement necessary adjustments

Update risk assessments periodically to reflect changes in your processes, technology, and other factors
Maintain comprehensive records of all your monitoring activities to keep a clear audit trial for compliance purposes

Monitor and reassess risks continuously and effectively with Effivity's ongoing management tools

Generate Risk Register

A risk register documents all identified risks, their analysis, evaluation, and the actions taken to manage them. It is a comprehensive record that helps with tracking and managing risks effectively.

Tracking all identified risks and their status can be cumbersome. Effivity's real-time updates and comprehensive tracking make risk management quick and efficient.

Effivity's Risk Management Module helps you generate and maintain an effective risk register by enabling you to:

Document all identified risks comprehensively, including their sources, potential impacts, and likelihood
Record the analysis and evaluation of each risk systematically so that relevant information is captured

Track the status of risk treatment actions and controls with the module's real-time updates on progress
Regularly review and reassess risks

Maintain an effective risk register easily with
Effivity's real-time tracking!

Generate SOA - Statement of Applicability

The Statement of Applicability is a document in an ISMS that lists all the controls selected to manage identified risks and justifies their inclusion or exclusion. Effivity also lets you determine the implementation status of those controls marked as applicable.

Mapping risks to appropriate controls can be complex and justifying inclusion and exclusion requires detailed documentation. Effivity simplifies control selection and document management processes, making your process efficient.

The module helps you:

List applicable controls by automatically mapping identified risks to appropriate controls
Justify the inclusion or exclusion of each control with detailed documentation and reasoning provided within the module

Maintain and update the SOA easily as your organization's risks evolve

Create and update your SOA effortlessly with Effivity's automated tools!