Risk Management
When it comes to managing risk using the BugZero platform, we have aligned our recommendations with the ISO 31000 risk management process.
THE MECHANICS OF RISK MANAGEMENT
Risk Assesment
- Risk Identification
- Risk Analysis
- Risk Evaluation
Risk Treatment
RISK MANAGEMENT PROCESS WORKFLOW
Increase your IT Operational Risk Management Maturity with BugZero
Identification
- BugZero identifies a product defect matching configured criteria and creates a task
- Defect task assigned to correct team (manual or automated)
Analysis
- Defect is analyzed by Managed Product Owner (Sys Admin)
- Likelihood/Probability
- Magnitude/Severity/Impact
- Time factors
Evaluation
- Managed Product Owner Analysis is evaluated by Business or App Owner
- Do nothing
- Consider options
- Further analysis
Treatment (Remediation)
- Take Action to control the risk
- Risk Reduction
- Risk Acceptance
- Risk Avoidance
RISK MANAGEMENT PROCESS WORKFLOW
STAGE
Identification
Analysis
Evaluation
Remediation
ROLE
BugZero
Product OwnerSystem AdministratorDBA
Business OwnerApplication OwnerIT Ops Manager
IT Ops Team
RESULT
Defect Task Assigned
Probability
Impact
Complexity
Time Factors
Risk AcceptanceRisk MitigationRisk AvoidanceRisk Transfer
Risk Remediated
BugZero supports the Continuous Compliance of the Confidentiality, Integrity, and Availability of our customer’s systems and applications. In order to maximize the effectiveness of BugZero, we recommend our customers perform a Business Impact Analysis. This will determine the criticality of business applications and should include mapping of those business applications to underlying infrastructure.