IT service process
Collect event details ICS
Execute Internal Control System
Description
Referenced process
Collect event details ICS
Description
The Loss Collection DB is a common element of both ERM and IT RM/RA. It is used to collect events details regarding Risk Management. Although many frameworks do not explicitly require Loss Collection, it is assumed that for proper risk management, companies should still gather information on potential events (using data base, spreadsheets, text notes, etc.).