PRISM® sets a standard for security risk management where there is none at present. It offers companies operating in global markets a single process for managing security risk across all locations and across the supply chain.
The PRISM® Standard
Once implemented, PRISM® is owned by an organisation and can be embedded into the business at any level. It can be tailored to fit with the organisational structure and current risk governance framework - 'Evolution not Revolution'.
PRISM® sets a new standard for security risk management. It draws on best practice to deliver a joined-up risk management process that provides assurance to all external stakeholders, such as shareholders, investors, banks, insurance companies, partners, regulators and governments, that security threats to expected returns are being managed effectively across the supply chain.
Organisations who use PRISM® are committed to managing security threats to their assets well. They recognise that the legal and governance climate has changed and that a Board of Directors are responsible for demonstrating that a robust risk management system is in place, before it is tested. PRISM® allows organisations to focus on doing what they do best, managing all risks to the highest standard.
PRISM® has been endorsed by the European Commission for use in the energy sector and formed the basis for the Reference Security Management Plan [RSMP]. It has also been recognised by NATO and is currently being implemented by several Governments as they develop CNI strategies for the energy sector. PRISM® is also taught as an accredited course at Saxion University of Applied Sciences in The Netherlands.
In 2011, PRISM® further established its reputation as an innovative and comprehensive risk management tool with an award from the Institute of Risk Management. This underscores the importance of good risk management practice to security risk while acknowledging the need for dedicated risk experts, such as those that exist for other risks such as Credit, Market and Operational.