Risk assessments have become more common recently, and for good reason. We read headlines daily about data breaches, high-dollar investments gone wrong, and companies that took a market risk that didn’t pay off.
Risk increases as a result of change, whether internally or externally triggered. Examples of internally driven change include executing a new project, launching a new product, or changing a process. Regulatory requirements, market changes, competitive challenges, and new security threats change the risk profile even when a company is conducting business as usual. Enterprises are never done with assessing risks; there is no such thing as “steady state” when it comes to risks.