Risk management deals with the sublime thin line between risks and business prospects. The basic challenge for organizations is to pursue opportunities, at the same time, minimizing or controlling the inherent dangers associated.
Plaudit can help to identify the risk scenario, which is the first step, but also to manage risks and assess the quantum of risk faced by the business and to restrict it to acceptable levels. Qualitative analysis, however, is hampered to the extent that it is more subjective in nature. To minimize the subjectivity in assessment and improve consistency, a risk management framework is absolutely essential.
Plaudit can assist organizations to develop risk management framework that are based on various standards but are simple enough to be accepted and implemented by the business and also assist organizations link compliance requirements with the risk treatment options to build an integrated risk and compliance framework. These integrated frameworks will empower organizations to make risk-based control decisions, providing the required business assurance.
Plaudit will assist to develop a comprehensive risk assessment and management framework that supports all information, processes, information technology assets, vendors, etc. and to transform and sustain risk management.