Risk Mitigation in Construction

“Mapping Cybersecurity Threats to Defenses: A Strategic Approach to Risk Mitigation” Most of the time we talk about reducing risk by implementing controls, but we don’t talk about if the implemented controls will reduce the Probability or Impact of the Risk. The below matrix helps organizations build a robust, prioritized, and strategic cybersecurity posture while ensuring risks are managed comprehensively by implementing controls that reduces the probability while minimising the impact. Key Takeaways from the Matrix 1. Multi-layered Security: Many controls address multiple attack types, emphasizing the importance of defense in depth. 2. Balance Between Probability and Impact: Controls like patch management and EDR reduce both the likelihood of attacks (probability) and the harm they can cause (impact). 3. Tailored Controls: Some attacks (e.g., DDoS) require specific solutions like DDoS protection, while broader threats (e.g., phishing) are countered by multiple layers like email security, IAM, and training. 4. Holistic Approach: Combining technical measures (e.g., WAF) with process controls (e.g., training, third-party risk management) creates a comprehensive security posture. This matrix can be a powerful tool for understanding how individual security controls align with specific threats, helping organizations prioritize investments and optimize their cybersecurity strategy. Cyber Security News ®The Cyber Security Hub™

After completing over 300 IT projects, I’ve learned one thing: Frameworks like Agile, Scrum, and Six Sigma are great… in theory. In real life? Projects rarely go as planned. Why? Because things happen. - Plans change. - Approvals get stuck. - Shipments are late. - People on medical leave. And suddenly, that perfect framework feels useless. Sound familiar? Here’s what I’ve learned after 300+ IT projects: - Start with the End Date: Lock in your target deadline. That’s your anchor. - Work Backwards: Build the timeline in reverse. It’s the only way to stay realistic. - Set Milestones: Break the project into chunks you can actually hit. - Focus, Focus, Focus: Forget perfection. Just hit those milestones, one by one. That’s it. No over-complicating. Just clear steps to move forward. My Biggest Takeaway Frameworks are helpful, but flexibility wins.  Plans change, and that’s okay. The goal isn’t to follow a framework — it’s to deliver results. What about you? How do you handle it when plans fall apart?

🚨 AI Privacy Risks & Mitigations Large Language Models (LLMs), by Isabel Barberá, is the 107-page report about AI & Privacy you were waiting for! [Bookmark & share below]. Topics covered: - Background "This section introduces Large Language Models, how they work, and their common applications. It also discusses performance evaluation measures, helping readers understand the foundational aspects of LLM systems." - Data Flow and Associated Privacy Risks in LLM Systems "Here, we explore how privacy risks emerge across different LLM service models, emphasizing the importance of understanding data flows throughout the AI lifecycle. This section also identifies risks and mitigations and examines roles and responsibilities under the AI Act and the GDPR." - Data Protection and Privacy Risk Assessment: Risk Identification "This section outlines criteria for identifying risks and provides examples of privacy risks specific to LLM systems. Developers and users can use this section as a starting point for identifying risks in their own systems." - Data Protection and Privacy Risk Assessment: Risk Estimation & Evaluation "Guidance on how to analyse, classify and assess privacy risks is provided here, with criteria for evaluating both the probability and severity of risks. This section explains how to derive a final risk evaluation to prioritize mitigation efforts effectively." - Data Protection and Privacy Risk Control "This section details risk treatment strategies, offering practical mitigation measures for common privacy risks in LLM systems. It also discusses residual risk acceptance and the iterative nature of risk management in AI systems." - Residual Risk Evaluation "Evaluating residual risks after mitigation is essential to ensure risks fall within acceptable thresholds and do not require further action. This section outlines how residual risks are evaluated to determine whether additional mitigation is needed or if the model or LLM system is ready for deployment." - Review & Monitor "This section covers the importance of reviewing risk management activities and maintaining a risk register. It also highlights the importance of continuous monitoring to detect emerging risks, assess real-world impact, and refine mitigation strategies." - Examples of LLM Systems’ Risk Assessments "Three detailed use cases are provided to demonstrate the application of the risk management framework in real-world scenarios. These examples illustrate how risks can be identified, assessed, and mitigated across various contexts." - Reference to Tools, Methodologies, Benchmarks, and Guidance "The final section compiles tools, evaluation metrics, benchmarks, methodologies, and standards to support developers and users in managing risks and evaluating the performance of LLM systems." 👉 Download it below. 👉 NEVER MISS my AI governance updates: join my newsletter's 58,500+ subscribers (below). #AI #AIGovernance #Privacy #DataProtection #AIRegulation #EDPB

‼️ I made these mistakes, and my water project failed. It was my first year on site as a young, eager engineer. I was supervising a rural water reticulation project in Esigodini . We were behind schedule and over budget. Pressure was high. Decisions had to be made , and I made the wrong ones. To cut costs, we started compromising on construction standards. At the time, it felt justifiable. But it wasn’t long before the system started failing. And it hurt. I had to watch a community's hope for clean water fade because of decisions I approved. Here’s where I went wrong: 1️⃣ Improper Bedding & Backfilling I allowed pipes to be laid directly on rocky ground with minimal bedding. No proper compaction. It looked like progress, but beneath the surface, it was a disaster in waiting. 2️⃣ No Thrust Blocks at Key Points On bends and critical junctions, we skipped thrust blocks to save time and concrete. When the pumps were activated, joints burst open like a balloon under pressure. I also overlooked proper jointing techniques and quality assurance checks. HDPE welds weren't inspected. Ductile iron pipes were joined in haste. No supervision. No second eyes. Just assumptions. (This is where you need an experienced foreman) 🎯 Lesson learned? Even the best designs fail without proper execution. And in Africa, where every drop of clean water matters, we can’t afford to get it wrong. Africa doesn’t need more pipes, it needs better pipe-laying practices. “It’s not always poor design that kills water projects , it’s poor execution. I learned that the hard way, so you don’t have to.”

Most third-party risk teams I speak with face the same challenge: Small staff, large vendor portfolios. 💼 The data backs this up: - The average portfolio is ~286 vendors; most TPRM teams have fewer than 10 staff. - 94% of teams say they cannot assess all vendors due to a lack of time or resources. - Nearly 50% of companies admit they don’t even reassess all vendors periodically. - Assessment cycles average 37+ hours per week, with vendor responses dragging 12+ days and 84% needing follow-ups. So, how do you cover more risk without more people? Here are some simple recommendations: ✅ Tier ruthlessly – Auto-tier vendors into 4 levels; reserve full assessments + monitoring for Tier 1. ✅ Use what exists – Accept SOC 2, ISO, or SIG Lite when fresh instead of sending new questionnaires. ✅ Streamline questionnaires – Keep only two: Core and Lite, with “proof selector” options to reduce doc sprawl. ✅ Event-based reassessments – Trigger quick checks after major incidents or CVEs instead of annual reviews for all. ✅ Automate workflows – SLA boards, templates, and parallel legal/security reviews speed decisions. ✅ Blend capacity – In-house for critical vendors, managed services, or external reviewers for overflow. Six metrics to prove efficiency to your board: 1) Coverage – % of Tier 1–2 assessed & monitored 2) Cycle Time – intake → decision 3) Risk Impact – remediation in 30/60/90 days 4) Accepted Risk Backlog – trend line 5) Reviewer Hours – per completed assessment 6) Cost – per Tier 1 decision Bottom line: You don’t need to assess every vendor equally. Focus depth where it matters, streamline the rest, and measure results. #ThirdPartyRiskManagement #TPRM #VendorRisk #OperationalResilience #RiskManagement #CyberRisk #Governance #Compliance #Procurement #SupplyChainRisk

Isabel Barberá: "This document provides practical guidance and tools for developers and users of Large Language Model (LLM) based systems to manage privacy risks associated with these technologies. The risk management methodology outlined in this document is designed to help developers and users systematically identify, assess, and mitigate privacy and data protection risks, supporting the responsible development and deployment of LLM systems. This guidance also supports the requirements of the GDPR Article 25 Data protection by design and by default and Article 32 Security of processing by offering technical and organizational measures to help ensure an appropriate level of security and data protection. However, the guidance is not intended to replace a Data Protection Impact Assessment (DPIA) as required under Article 35 of the GDPR. Instead, it complements the DPIA process by addressing privacy risks specific to LLM systems, thereby enhancing the robustness of such assessments. Guidance for Readers > For Developers: Use this guidance to integrate privacy risk management into the development lifecycle and deployment of your LLM based systems, from understanding data flows to how to implement risk identification and mitigation measures. > For Users: Refer to this document to evaluate the privacy risks associated with LLM systems you plan to deploy and use, helping you adopt responsible practices and protect individuals’ privacy. " >For Decision-makers: The structured methodology and use case examples will help you assess the compliance of LLM systems and make informed risk-based decision" European Data Protection Board

𝐅𝐢𝐧𝐝𝐢𝐧𝐠 𝐢𝐭 𝐡𝐚𝐫𝐝 𝐭𝐨 𝐦𝐚𝐧𝐚𝐠𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐫𝐢𝐬𝐤 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐒𝐌𝐄? As someone who's navigated the ups and downs of running and advising small and medium-sized enterprises (SMEs), I know that identifying and managing financial risks is crucial for your business's health and growth. Let's delve into some key strategies: Understand Your Cash Flow: Keep a close eye on your cash flow. Surprisingly, 82% of SME failures are due to poor cash flow management. Regular Financial Audits: Conducting regular audits can help identify potential risks early. Remember, prevention is better than cure. Diversify Revenue Streams: Don't put all your eggs in one basket. Diversification can reduce dependency on a single source of income, which is vital as market trends shift. Stay Informed on Market Trends: Keeping up with market trends is essential. This knowledge can help you anticipate and prepare for potential financial downturns. Invest in Good Insurance: Insurance can be a lifesaver in mitigating unforeseen risks. Consider different types of insurance to cover various aspects of your business. Create a Risk Management Plan: Have a solid plan in place. Only 50% of SMEs have a risk management plan, yet those who do are 28% more likely to experience growth. As we navigate the ever-changing business landscape, remember that managing financial risk is not just about avoiding pitfalls; it's about empowering your business to thrive in uncertainty. Looking forward to your insights and strategies on this! ________________________________ Check out my website and podcast. Link in the comments. #FinancialRiskManagement #SMEGrowth #Facts #BusinessStrategies #EconomicResilience #Entrepreneurship

Third-Party Risk: The Hidden Cybersecurity Battlefield in Modern Supply Chains In our interconnected digital ecosystem, your security posture is only as strong as your weakest vendor. Modern enterprises rely on 100s of third-party vendors, creating an exponentially expanding attack surface. Supply chain attacks have become the preferred vector for sophisticated threat actors. Instead of targeting well-defended enterprises directly, attackers exploit vulnerabilities in trusted vendors to simultaneously breach hundreds of downstream organizations. Game-Changing Examples SolarWinds (2020): Compromised software updates affected 18,000+ customers including Fortune 500 companies and government agencies, demonstrating how a single vendor breach cascades across entire sectors. MOVEit (2023): A single vulnerability led to data breaches affecting over 600 organizations globally, showcasing the massive scale of modern supply chain impacts. Why Third-Party Risk Monitoring is Critical Continuous Visibility: Traditional annual assessments are insufficient. Organizations need real-time monitoring of vendor security posture, breach notifications, and compliance status changes. Risk Amplification: When attackers target managed service providers or software vendors, the impact multiplies across all their clients. One compromised vendor can expose thousands of organizations simultaneously. Regulatory Liability: With GDPR, CCPA, and emerging supply chain regulations, organizations face increasing liability for third-party security failures. Proactive monitoring demonstrates due diligence. Building Effective Defense Continuous Assessment: Implement real-time vendor risk scoring across your entire ecosystem Zero Trust Extension: Apply least-privilege access controls to all third-party connections Incident Response Integration: Ensure your IR plans account for vendor breaches with clear communication protocols Contractual Protection: Update vendor agreements with security requirements and liability provisions The Bottom Line Organizations can no longer treat vendor risk as procurement afterthought. The question isn't whether your supply chain will be targeted — it's whether you'll detect and respond effectively when it happens. The strongest security programs extend beyond organizational boundaries to create defensible ecosystems, not just defensible enterprises. #ThirdPartyRisk #TRPM #SupplyChainAttack #CyberSecurity

The key to effective risk management in compliance. Transaction Screening vs. Transaction Monitoring. Understanding these two concepts is crucial for maintaining financial security: → Transaction Screening: This is a preventive measure. It checks transaction details before approval. It helps stop fraud, sanctions evasion, money laundering, and terrorism financing. This step ensures regulatory compliance and reduces financial crime risks. → Transaction Monitoring: This is a reactive measure. It continuously assesses transactions after they occur. It looks for signs of fraud, money laundering, or terrorist financing. Using advanced technology and real-time data analysis makes this process more effective. Before: Many financial institutions relied heavily on manual checks. They struggled to keep up with the increasing volume of transactions. They often detected issues too late, leading to significant losses. Now: Institutions use both screening and monitoring for a comprehensive approach. They integrate advanced technologies for better efficiency. They can quickly respond to emerging financial crimes. Combining these two processes strengthens compliance frameworks. It ensures better use of data and technology. It helps meet regulatory expectations and enhances business resilience. Exploring the nuances of transaction screening vs. monitoring provides valuable insights. It encourages discussions on best practices and technological advancements. It addresses regulatory implications in the evolving landscape of financial compliance. Effective risk management isn't just a necessity—it's a strategic advantage.

Potential synergies and trade-offs between climate action and the SDGs 🌎 Climate change mitigation measures can have varied impacts on the Sustainable Development Goals (SDGs), as illustrated by the matrix of blue and red bars. Blue bars represent potential synergies where efforts to reduce greenhouse gas emissions simultaneously contribute to SDG targets. Red bars highlight trade-offs that arise when mitigation strategies undermine certain development objectives. The length of each bar indicates the relative strength of the relationship, while the color shade reflects the level of confidence in that assessment. In the energy supply sector, the shift toward low-carbon technologies tends to yield positive outcomes such as improved air quality, economic diversification, and enhanced energy access. However, trade-offs may occur when large-scale infrastructure projects affect local communities, disrupt ecosystems, or require additional land and water resources. Similar complexities appear in energy demand interventions, where efficiency gains and electrification policies can support decent work opportunities but may demand significant up-front investment and workforce reskilling. Land-based mitigation options often provide notable climate and ecosystem benefits, but they also intersect with agriculture, land rights, and biodiversity protection. Excessive reliance on bioenergy crops, for instance, can challenge food security and local livelihoods if planted at scale without proper safeguards. Balanced policymaking is essential to ensure climate efforts do not negatively affect fundamental social and environmental priorities outlined in the SDGs. These considerations are particularly relevant for businesses, as the private sector increasingly aligns growth strategies with sustainability objectives. Assessing and addressing both synergies and trade-offs can inform risk management, long-term planning, and stakeholder engagement. Sound understanding of potential conflicts between climate goals and other development targets supports responsible investment decisions and can strengthen corporate reputation, reduce legal risks, and foster resilience in global value chains. Strategic approaches that integrate multidimensional impact assessments, stakeholder consultations, and cross-sector collaborations can enhance the positive interactions between climate mitigation and SDG outcomes. Such approaches also minimize unintended consequences that could arise from well-intentioned but narrowly focused interventions. By comprehensively evaluating the interconnections among climate measures and the SDGs, decision makers can guide future actions toward balanced, resilient, and inclusive pathways for sustainable development. #sustainability #sustainable #business #esg #climatechange #SDGs