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

BugZero Mechanics 1 Graph
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BugZero Mechanics
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BugZero operational risk explanation

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
BugZero workflow

RISK MANAGEMENT PROCESS WORKFLOW

STAGE

Identification
Analysis
Evaluation
Remediation

ROLE

BugZero
Product Owner
System Administrator
DBA
Business Owner
Application Owner
IT Ops Manager
IT Ops Team

RESULT

Defect Task Assigned
Probability
Impact
Complexity
Time Factors
Risk Acceptance
Risk Mitigation
Risk Avoidance
Risk 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.