Security management

Security management is the identification of an organization's assets (including people, buildings, machines, systems and information assets), followed by the development, documentation, and implementation of policies and procedures for protecting assets. An organization uses such security management procedures for information classification, threat assessment, risk assessment, and risk analysis to identify threats, categorize assets, and rate system vulnerabilities. Loss prevention Loss prevention focuses on what one's critical assets are and how they are going to protect them. A key component to loss prevention is assessing the potential threats to the successful achievement of the goal. This must include the potential opportunities that further the object (why take the risk unless there's an upside?) Balance probability and impact determine and implement measures to minimize or eliminate those threats. The management of security risks applies the principles of risk management to the management of security threats. It consists of identifying threats (or risk causes), assessing the effectiveness of existing controls to face those threats, determining the risks' consequence(s), prioritizing the risks by rating the likelihood and impact, classifying the type of risk, and selecting an appropriate risk option or risk response. In 2016, a universal standard for managing risks was developed in The Netherlands. In 2017, it was updated and named: Universal Security Management Systems Standard 2017. Strategic: Competition and customer demand. Operational: Regulations, suppliers, and contract. Financial: FX and credit. Hazard: Natural disasters, cyber, and external criminal acts. Compliance: New regulatory or legal requirements are introduced, or existing ones are changed, exposing the organization to a non-compliance risk if measures are not taken to ensure compliance. Strategic: R&D. Operational: Systems and processes (H&R, Payroll). Financial: Liquidity and cash flow. Hazard: Safety and security; employees and equipment.