Data Risk Management Assessment

Sandhill’s Data Risk Management analyzes the potential risks and liabilities related to the organization’s data management processes that could hinder the achievement of critical business objectives.

Product Brief

Data Risk Management is more than just dealing with data breaches. Data faults that arise from the content, structure, and lifecycle of data can also lead to financial and reputational losses from commercial and regulatory non-compliance. Sandhill’s offering for Data Risk Management Assessment can deliver capabilities to the auditing community, both financial and IT, with the processes and technologies that provide for traceability of data resources from business terms to database elements.

Main Idea/Benefit

The detection and mitigation of data faults provide for both forensic and preventive processes associated with the risks from data issues. The first step in any risk management program is to classify and valuate the potential risks.

Sandhill’s approach to Data Risk Management consists of the following:

 
  • Data Management Risk Strategy
  • Data Management Risk Assessment

Critical factors for successful Data Risk Management are the inventory of the critical data elements (CDE) and linkage of business terms and technical data. Once the CDEs are defined, they must be evaluated and rated by risk categories (i.e. Strategic, Operational, Financial, Compliance, Reputational).

Once the classification and valuation of data is completed, the potential consequences of data faults can be evaluated and plans for remediation developed to limit unintended consequences.

Solution Overview

Working with your data organization, Sandhill’s Data Risk Management Assessment provides a documented Findings and Recommendations Report that includes:

  • A set of strategies and goals
  • An evaluation of the current level of risk associated with the Data Management processes
  • A roadmap of how to close the gap between the current and desired data of risks associated with the Data Management processes.

Key Benefits

  • A common terminology
  • A shared understanding and vision among stakeholders
  • A clear path to increasing data management capabilities
  • A positive solution for achieving business objectives from data management process improvement

Data Management Engagements

Domain Education

Sandhill Consultants offers both standardized, modular education, as well as custom offerings. The following Education is recommended:

  • Data Management Maturity Model Executive Overview
  • Data Management Maturity Model Foundation

Please contact us for further information.

Data Management Maturity Assessments

Sandhill’s approach to helping clients achieve desired levels of Data Management Maturity incorporates all of the data management practice areas. The following Sandhill DMM resources are particularly relevant:

Consulting

Sandhill offers consulting and expert resourcing the following areas:

Sandhill Frameworks

Talk To Us About Scheduling A Consultation

Not only do we sell data modeling software packages, but our extensive knowledge allows us to not only support your organization in proper use, but our own standards products are also available to ensure data efficiencies.