Throughout the COVID-19 pandemic many organisations have been concerned not only about their ability to withstand the economic impact of the pandemic but also the heightened difficulties in asset protection that the current instability brings.
For Elementary Consulting Group (LMNTRY), increasing our customers and our peers understanding of security is a priority so they can implement an appropriate and practical strategy for protecting their assets, even during times of crisis.
To properly tailor an organisations approach to security it is important to take a risk-based approach through the creation of a Security Risk Management Plan (SRMP).
A SRMP outlines variables and considerations including but not limited to:
- Identification of assets - what assets needs protecting;
- Why they need to be protected;
- What they need to be protected from and the impact it would have if an event is realised;
- Effective strategies to reduce the likelihood of the event taking place;
- What needs to be done once an event occurs; and
- How can an organisation recover and resume its operations following an event?
If an organisation already has such a plan in place, then now is the time to ascertain if the plan:
- Is the plan relevant;
- Is the plan workable; and
- Will be of benefit – does it do what is needs to.
If during a review an organisation finds that their existing security provisions are less effective than they’d like, or that they are without any provisions in place, all is not lost. However, it is important to act swiftly so that they are best placed for the resumption of business operations once the current pandemic has subsided. We therefore recommend that organisations assess their plans now before it may be too late.
At LMNTRY we understand that to effectively help our customers tailor plans appropriate to their needs, a collaborative and consultative approach must be taken with all stakeholders to ensure a successful asset protection outcome.
Our role is to work with our customers and help them identify and understand what is truly important, what they need to protect and how they the can best recover when necessary should the worst occur. As consultants, our work is about communication and collaboration so we can best add value to our clients and their organisations.
