Glossary

Issue Management

What is Issue Management?

Issue management refers to the handling of issues that develop within a company such as employee difficulties, supplier logistic issues, technical difficulties, security alerts, and strapped resources. Good issue management helps remediate and avoid issues and boost operational resilience. 

A  centralized issue management program is a key part of corporate governance strategy, driving better decision-making, increasing transparency and resilience and keeping in line with organizational goals.

In the context of security, issue management refers to the process of addressing security-related problems in an organized way. It involves a systematic approach to mitigating immediate security issues and minimizing their impact.

Risk Management vs. Issue Management

Issue management and risk management are similar terms, but they have two distinct roles. Risk management is a broader concept that encompasses issue management. Issue management is a narrower subject and is an integral part of effective risk management. Let’s discuss each of them separately.

Risk Management

  • Risk management focuses on identifying, assessing, and mitigating potential future events or situations that could impact business objectives.
  • Risk management involves anticipating and preparing for uncertain events that may have positive or negative consequences.
  • Risk management is inherently proactive. It involves assessing and managing potential risks before they occur to reduce their likelihood or mitigate their impact in the future.
  • Risk management encompasses a broader scope, considering a wide range of potential events and their potential impact on the organization’s objectives, including financial, operational, legal, reputational, and strategic risks.
  • Risk management typically follows a framework and takes on a very structured form.
  • Risk management focuses on implementing preventive measures and developing contingency plans ahead of the occurrence of events.

Issue Management

  • Issue management deals with current or emerging problems or events that have already occurred and require immediate attention and resolution. 
  • Issue management is reactive and focuses on addressing current or imminent problems that have already manifested. It aims to resolve issues promptly to minimize their immediate impact on operations or objectives.
  • Issue management frameworks deal with specific, identifiable issues or incidents that have already occurred, often within a narrower scope. It involves addressing immediate challenges, bottlenecks, conflicts, or obstacles that require resolution to maintain ongoing operations.
  • Issue management often requires a tactical approach. It involves analyzing the root causes, developing corrective actions, and implementing short-term solutions to address the specific issue at hand.

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Security Issue Management Process

Spot the Issue

The first step is to identify security-related issues or incidents. This can involve monitoring security logs, conducting vulnerability assessments, performing penetration testing, or receiving issue management analysis reports from users or security systems.

Issue Analysis

Once an issue is identified, it is essential to analyze and understand its root cause, impact, and potential consequences. This may involve investigating the incident, collecting relevant data, and conducting forensic analysis to determine the extent of the issue and any associated risks.

Prioritization

Not all security issues have the same level of severity or urgency. Prioritization helps determine the order in which issues should be addressed based on their potential impact, the likelihood of exploitation, and criticality to the organization’s operations.

Resolution

The next step is to develop and implement appropriate measures to resolve the security issue. This may involve applying patches or updates, reconfiguring systems, enhancing security controls, or taking other remedial actions to address the underlying problem and prevent similar incidents in the future.

Communication and Reporting

Throughout the issue management process, effective communication is crucial. This includes informing relevant stakeholders, such as IT teams, management, and affected parties, about the issue, its resolution, and any necessary steps to prevent a recurrence. Reporting may also be required for regulatory compliance or internal documentation purposes.

Don’t Stop There

After resolving an issue, it is essential to conduct a post-incident review to identify lessons learned and opportunities for improvement. This helps refine security practices, update policies and procedures, and enhance overall security posture to prevent similar issues in the future.

How Does Issue Management Relate to Governance?

An issue management program eventually boils down to an effective governance program that designates clear roles and responsibilities across an organization. 

Cyber governance refers to the oversight of all the processes, personnel, and tools an organization uses to respond to cyber security risks and issues The responsibility of cyber governance comes down to the Chief Information Security Officer, but any stakeholders throughout the organization are ultimately part of the task force as well. Cross-departmental collaboration under a centralized umbrella will significantly help address all security issues efficiently. 

Start Getting Value With
Centraleyes for Free

See for yourself how the Centraleyes platform exceeds anything an old GRC
system does and eliminates the need for manual processes and spreadsheets
to give you immediate value and run a full risk assessment in less than 30 days

Want to talk to Centraleyes about Issue Management?

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