IT Risk Management – ISO 27005

The establishment of an IT risk management system according to ISO 27005 or BSI standard (IT-Grundschutz) BSI standard 200-3 serves as an important part of corporate risk management for the existence and future security of a company/organization. Thereby the IT risk management in the enterprise risk management is led under the operational risks.

While the management of liquidity risks and success risks has always been a component of financial risk management, awareness of the importance of IT risk management is becoming more and more apparent with increasing digitalization.
Companies/organizations in all industries today have in common that an IT failure can lead to massive problems in the continuation of business processes or even to a complete standstill of business operations.

It is important to plan IT risk management comprehensively and sustainably, adapted to the critical business processes of a company/organisation.
For sustainable and effective and cost-efficient IT risk management, it is recommended to proceed according to established standards such as BSI standard (IT-Grundschutz) BSI 200-3 or according to the requirements of ISO/IEC 27005.

In IT Risk Management, risks associated with information technology are

  • Identified,
  • Analyzed,
  • Evaluated and
  • Treated,
  • Controlled and
  • Monitored.

This procedure according to the requirements of ISO 27005 or BSI standard (IT-Grundschutz) protects companies from potential damage and, despite various changes in the IT infrastructure, enables the

  • Identification of dangers
  • Evaluation of threats
  • Implementation of measures and thus resulting in
  • Risk mitigation and threat reduction

IT-Risk-process

IT risk management: Schematic of the IT risk assessment (ISO / IEC 27005)

Due to the complexity of the field and the linkage of the business process with the IT assets required for a sustainable risk assessment, it is advisable to fall back on tool support.

The IT risk management system QSEC enables the entire IT risk management process (ITRM) to be optimally supported and implemented in a resource-saving manner in accordance with the requirements of ISO 27005 and BSI 200-3 and also provides all the functions for comprehensive operational risk management (OpRisk).

We would be pleased to explain the possibilities and the range of services offered by QSEC in IT risk management and show you how QSEC facilitates and supports the work of those responsible for information security.

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QSEC module IT-Risk Mgmt.

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QSEC Online-Demo