Security Risk Management Aide Memoire, Security Risk Management is the management process of minimizing risks associated with technology use. This includes threats to business, software, networks, and personal information. In other words, companies have to: Identify security risks, such as those that relate to the security of business-critical applications. To do this, the company must determine the level of risk the application poses to its overall network. It can be done by identifying what information is stored on the system and how much information the application contains.

After determining the risk level, the next step involves identifying what the company can do to reduce or eliminate the threat. For instance, if the software has sensitive data, the company may consider developing a program to encrypt the information. Such programs are known as encryption tools because they use complicated encryption techniques to encode data in ways that cannot be read without specific details.