Contact us today!

FRS Pros Blog

Tip of the Week: Evaluating and Assessing Risk

Tip of the Week: Evaluating and Assessing Risk

Whenever you decide to implement something in your information technology strategy, you accept some level of risk. Understanding and managing this risk is crucial to your business’ success. For this week’s tip, we’ll review how to manage your IT risks and what your options are.

Understanding IT Risks

Your risk management is a very important balance to strike - not only will it allow you to prepare for potential issues preemptively, you can also take the opportunity to reconsider your plans if the impending risks are greater than you’re comfortable with. After all, if adopting a solution ultimately hurts your productivity or overall success, it can hardly be considered a solution, can it?

This is precisely why risk management is a critical process for any business that plans to be successful.

How to Successfully Manage Your IT Risks

Like any business process, risk management has a few steps that should be followed in order for an optimal outcome to be attained. These steps can be summarized with the acronym PEARS: Predict, Evaluate, Arrange, React, and Scrutinize.


In order to properly prepare for one of your risks, you have to see it coming. Commit some time to consider which risks are the most probable, and at what point the associated issues are likely to arise.


Once you have narrowed down your risks to the most probable, you should estimate the impact each would have. Are they potentially cataclysmic, or would they result in minor annoyances?


With these impacts in mind, you need to order your risks in order of their severity (and resultantly, their priority) so you can address the most important ones first.  At this point, you can devise a strategy to approach them, which we’ll review in more depth later.


At this point, you are prepared for your hypothetical risks to become reality. If they do, you need to stick to the plan you have made thus far. There are a few different ways that you can approach this:

  • Avoidance - You could simply decide to take the steps necessary to avoid the risk, with little regard to the costs of doing so. While applying safeguards is often an effective way of avoiding a given risk, it is usually resource-intensive to rely on as your only method of risk management.

  • Reduction - Similar to avoidance, this method entails the use of your resources to circumvent risk. However, instead of eliminating the risks entirely, this approach is geared more towards making risks more easily managed and less impactful.

  • Transference - You may have the option to shift the risk to an area that can better handle it or finds it less risky. This might be another department in your business, or a solutions provider who is more experienced in handling such matters.

  • Acceptance - This strategy relies on you to have the foresight to accept that risks are possible. The idea here is to not be caught by surprise when a risk materializes so that you can better handle it in the moment.


After your particular risk has passed, you should evaluate how well your preparations did in reducing the resulting impacts. Were your mitigations effective, and how could they be improved for the next time?

FRS Pros Can Help with Your IT Risks

As a managed service provider, we’ve had a lot of experience with IT risks and mitigating them. We can help you identify your risks and determine the best ways to address them. Combining the processes described above with our expertise, we’ll find the solution that suits your particular business needs.

Give us a call at 561-795-2000 for more information.

Automation is Sure to Have an Effect on Workers
Foldable Smartphones Launching in 2019

Mobile? Grab this Article!


Tag Cloud

Tip of the Week Security Technology Best Practices Network Security Productivity Privacy Business Computing Hackers Internet Microsoft User Tips Google Software Cloud Innovation Business Management Hardware Computer Data Email Tech Term Data Backup Windows 10 Cybersecurity Efficiency IT Services Communication Smartphones Hosted Solutions Mobile Devices Malware Office 365 Data Recovery Upgrade Browser Smartphone IT Support Outsourced IT Business Internet of Things Android Backup VoIP Gadgets Windows Communications Apps Data Security Phishing Workplace Tips Small Business Cybercrime Business Continuity Managed IT Services Saving Money Disaster Recovery Users Mobile Device Management Cloud Computing Operating System Network Ransomware Facebook Information Money Artificial Intelligence Vulnerability Server Alert Passwords Law Enforcement Social Media OneNote Automation Managed Service Two-factor Authentication Employer-Employee Relationship Managed IT Applications Wireless Chrome Networking Microsoft Office Virtualization Spam Holiday Managed IT Services Collaboration Miscellaneous Best Practice IT Support Blockchain Health Quick Tips Hacking Windows 10 Google Drive Settings Gmail Retail Save Money BYOD Unsupported Software Augmented Reality Computers App Windows 7 Word Patch Management Project Management Information Technology Data Storage Telephone Systems Data Breach Tech Support Mobile Device Access Control Password Printing Managed Service Provider Bring Your Own Device Router Vendor Evernote IT Management Google Assistant Application User Error Cost Management Hosted Solution Search Encryption Hybrid Cloud Avoiding Downtime Mobility Commerce Voice over Internet Protocol Safety WannaCry Cortana Data Loss Conferencing Budget Wireless Technology Going Green Business Technology Social Risk Management Wireless Charging Proactive IT Google Docs Data Management SaaS Government Hard Drive Display Devices Productivity Touchscreen Robot Wi-Fi Update Sports WiFi Bandwidth Politics The Internet of Things Shortcut Payment Cards VPN iPhone Travel Telephony Paperless Office Excel Audit BDR File Sharing Data Protection Fraud Meetings History Mobile Security OneDrive Smartwatch Sync Computer Fan PowerPoint Admin Virtual Private Network Storage Social Engineering Upgrades Legal Hosted Desktop FAQ Hard Disk Drive Hyperlink Processor Edge Break/Fix Websites Marketing Identity Printers Development NFL eWaste Machine Learning Antivirus Fiber Optics Files Transportation Employee-Employer Relationship Server Maintenance DDoS Wireless Internet Laptop Saving Time Remote Workers Identities Smart Devices Charger Recovery IT Solutions Value Wasting Time Battery Benchmarks Ciminal Disaster Private Cloud Medical IT Data Theft Webinar Data Privacy Instant Messaging Micrsosoft Hacker Device Security Amazon Downtime Holidays Consultant Investment Emergency Adobe Workers Gamification Touchpad Keyboard Shortcuts Managed IT Service Legislation Language Sabotage Administrator Accessory Point of Sale Myths Remote Monitoring Software as a Service 5G Gifts Computing Streaming Media IT solutions Business Intelligence Windows Ink Lithium-ion battery Virtual Assistant E-Commerce Entertainment Copiers Testing ROI Licensing Updates Memory Humor Human Resources Managed Services Provider Identity Theft Comparison PC Outlook Access iOS WIndows Server 2008 Computer Forensics Peripheral Threats Office Microsoft Excel IT budget YouTube Inventory Credit Cards App store Chromecast Windows 10s HBO Chromebook Co-Managed Services Digital Signage Google Maps Spyware Alexa for Business Personal Information Screen Mirroring Camera Windows Server 2008 R2 Microsoft Word Computer Care Nanotechnology Financial Payroll Facebook Privacy Vendor Management Specifications Virus Reputation Employees Internet Exlporer Management Scams Scam Unified Threat Management Solid State Drive Data storage Telephone Education Firewall Apple Employee Emails Cast Remote Computing Projects Mobile Office Tablets Maintenance Uninterrupted Power Supply Root Cause Analysis Security Cameras eCommerce Samsung Sales Proactive Current Events Electronic Medical Records Text Messaging Crowdsourcing Employer Employee Relationship Phone System Benefits Compliance Save Time Office tips Computer Accessories Flexibility Music Advertising Smart Technology Cache Regulation Training Monitors Scalability Analytics Twitter End of Support Keyboard Television CrashOverride HaaS Relocation Black Market Cleaning Thank You Company Culture Big Data Automobile Managing Stress USB Worker Congratulations How To Books es PDF Video Games Experience Communitications Hiring/Firing Mobile Computing Virtual Reality Work/Life Balance