Academics Tackle Risk Management

With the high volume of personal information that college administrations around the world handle on a daily basis, it would stand to reason that their databases would suffer breaches and loss of data. With over 1.3 million records compromised in a given year, other industries can take a lesson from how college administrators deal with this problem on a daily basis, according to www.govhealthit.com.

Lessons Learned

Listed below are three lessons on risk management that any organization can use to make their data protection more sound. These lessons include how organizations approach risk management, identifying risks, and understanding the negatives and positives of any risk taken.

1. Approaching Risk: Companies should approach risk in a holistic way, looking at the overall risk picture. This means making student privacy and overall data security a part of standard procedures. This approach also takes a look at how all of the risks a company encounters relate to each other.

2. Identifying Risk: Businesses should likewise work to identify any risk that could present a danger to data security. Companies should strive to develop methods for analyzing any risk and its potential impact if personal data is compromised.

3. Understanding Risk: Data loss represents one potential downside of risk. On the other side, risk can also have good benefits as well. Understanding the relationship between taking a risk for any potential windfall that will come of it and any potential negative results is important. Evaluating risky actions and trying to account for any negatives, or at least lessening their impact, can lead to benefits at some point in the future. It's just a matter of deciding if the risk is worth taking or not. Understanding the risk allows a company to do so.

Conclusion

One thing remains certain with risk and data management, data breaches happen and will continue to happen. Knowing this allows companies to plan for that eventuality. Understanding the risks they face day after day allows companies to put in place plans to lessen or even eliminate risk.

 

For more information about risk and data management, visit: http://www.govhealthit.com/news/3-lessons-risk-what-higher-education-can-teach-hit