Risk Management Program

Risk is often associated with the possibility of negative outcomes, but it is actually defined as the effect of uncertainty on objectives. This means that risk includes both potential hazards and opportunities. Our risk management program aims to increase trust by addressing our customers uncertainty that may impact objectives. Managing risk in the early stages is very important for us to build and maintain your trust.

Why we minimize risks

ProdigyBuild will be storing large amounts of data that may contain personal information, financial data, and intellectual property. Our risk management program will help identify potential risks and data breaches, hacking attempts, or other security threats that could put our customers information at risk. Being transparent about our philosophy, practices and procedures allows us to gain trust.

By providing cloud services, it is vulnerable to outages and disruptions caused by various factors, such as cloud IaaS related problems, network outages, or cyberattacks. Our risk assessments exercises will identify potential causes of service disruptions and help us develop strategies to ensure service availability to all of our customers.

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ProdigyBuild conducts and reviews annual Risk assessments and exercises that includes

  • Risk Identification: Identify the potential risks that may the service which includes all risks related to data security, service availability, compliance, and more.

  • Risk Assessment: Assess and prioritize each risks of the likelihood and impact of each identified risk.

  • Risk Mitigation: Implement security measures, deploy redundancy and ensure backup systems, disaster recovery plans are all in place and properly working.

  • Risk Monitoring: Our team regularly monitors the risks and update the mitigation plan regularly to stay up to date with our Risk Management Program.

  • Incident Response: We have developed a plan for responding to incidents that includes roles and responsibilities, deploying incident response procedures, and always continuing to provide training for incident response teams.

  • Business Continuity Planning: We have exercised our BCP by identifying critical systems, defining recovery procedures and conduct testing regularly.

  • Compliance Management: Your data is extremely important and we’re always looking to meet data privacy laws, security standards, and industry-specific regulations.

Closing

By committing to a comprehensive risk management program, we can better understand and mitigate the risks by reducing potential security threats, financial, legal, and reputational impacts. It’s an investment to ensure that we are well-positioned to navigate the challenges and uncertainties of today’s business environment.