Risk Assessment Process

CloudAnzen supports structured risk assessments to systematically identify and evaluate risks.

Creating an Assessment

Go to Risk Management → Assessments.

Click New Assessment.

Define the scope (organization-wide, department, or system-specific).

Set the assessment period and deadline.

Assign assessors.

Assessment Steps

1. Risk Identification Assessors review their areas and add new risks or confirm existing ones. CloudAnzen suggests potential risks based on your industry and integrations. 2. Risk Analysis For each risk, assessors evaluate:

Likelihood of occurrence
Potential business impact
Existing controls that mitigate the risk
Residual risk after controls

3. Risk Evaluation Compare assessed risks against your risk appetite. CloudAnzen highlights risks that exceed your defined tolerance thresholds. 4. Treatment Planning For each risk above threshold, define a treatment plan:

Mitigate — Implement controls to reduce likelihood or impact.
Transfer — Shift the risk to a third party (e.g., insurance).
Accept — Acknowledge and monitor the risk.
Avoid — Change plans to eliminate the risk entirely.