Managing Integrated Risks

Dr. Miles Smit from Risk Advisory and Strategy practice at Tracker Networks based in Canada participates in Risk Roundup to discuss Managing...

Dr. Miles Smit from Risk Advisory and Strategy practice at Tracker Networks based in Canada participates in Risk Roundup to discuss Managing Integrated Risks.

Integrated Risks

The computer code, connected computers, and the internet have heralded both beginnings and ends. As the computer code and connected computers blur the line between cyberspace, geospace, and space (CGS), and as cyberspace gets deeply embedded across each component of a nation: that is its government, industries, organizations, and academia– its crowded interconnections bring complex, chaotic, and challenging time for everyone. These growing interconnections and inter-dependencies raise an important question on whether our current risk management framework, tools, technologies, and processes are effective in identifying, evaluating, and managing integrated risks.

Now, since integrated risks are not even effectively identified—and when the computer code, connected computers, and the ecosystem that make the cyberspace begin to bring complex challenges and complexities to everyone and to everything from across geospace and space, the question is whether we need a new way of identifying, evaluating, and managing integrated risks.

Managing Integrated Risks

In an interconnected and interdependent digital global age, each individual and entity across nations: its government, industries, organizations, and academia (NGIOA) need to be responsible for managing their independent risks as well as reporting any and all interconnected, interdependent, and integrated risks– thereby playing an effective role in managing integrated risks. It is important that we individually and collectively understand and evaluate the risks emerging from across CGS due to connected computers, computer code, and the internet and clearly define accountability for managing integrated risks.

Each one of us has a responsibility towards collectively managing integrated risks for securing cyberspace since cyberspace cannot be secured if individuals and entities across NGIOA work in a silo within and across its CGS boundaries to manage only independent risks. The need for integration and collaboration between individuals and entities across NGIOA in CGS is a fundamental necessity for managing any and all interconnected and interdependent, integrated risks emerging from CGS that impacts us all. The time for NGIOA integration and collaboration is now! The time to evaluate a new approach to managing integrated risks is now!

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