Enterprise Risk & Compliance Technology BLOG: Plan and Prepare with Risk Management

Plan and Prepare with Risk Management

Growing up in Maryland, during the long, summer nights, severe thunderstorms frequently rolled in and did some damage. During the short, cold winter nights, an array of snow and ice storms rolled in and did some damage. In stormy weather, there was always the strong possibility of power outages. To prepare for the repercussions of inclement weather, my family established a plan to kick start when a threat arose. We would make sure we filled up water buckets, gathered blankets, and stockpiled water bottle gathered blankets, and stockpiled water bottles, non-perishable snacks, and batteries. We also double checked that the generator had gasoline and was ready to go if we needed to utilize it. This might seem like extreme preparation for what seem like regular occurrences.

The preparation paid off on June 29^th, 2012, when an unexpected derecho caused great damage and many blackouts up and down the Mid-Atlantic.

Thankfully, my dad took preventative actions before the storm, leaving us better off than most after the storm. We were able to start up the generator and still host the big party we planned for the next day. Utilities need to take a similar risk management software approach regarding a security plan. Cyber security attacks are very prominent fears all utilities should acknowledge and devise a way to mitigate this risk. While some utilities might stress the approaching CIP 5 deadline, every utility needs to understand that being compliant with the governance will alleviate the risk associated with cyber security management system.

Is the threat of cyber hacking enough to push you towards compliance or would you rather remain vulnerable until a security breach brings you to your knees? Amazingly, a lot of risk assessment and preventive planning can be done through a cutting edge regulatory compliance software.

Something like Predict360, that is one of the most widely used GRC Software available in the market at truly affordable rates.