What do we call the strategies, hardware, and software for managing and reducing risk in a system?

The term that encompasses the strategies, hardware, and software specifically aimed at managing and reducing risk in a system is known as technical controls. These controls involve the use of technology to protect systems and data. They include firewalls, encryption, antivirus software, intrusion detection systems, and other automated mechanisms that are implemented to prevent, detect, and respond to security threats.

Technical controls are essential because they serve as the frontline defense in a security strategy, applying specific security measures directly on systems and networks. By utilizing these measures, organizations can effectively mitigate risks associated with vulnerabilities and threats, enabling a more secure operating environment.

Operational controls, in contrast, are the policies and procedures that are designed to maintain security during day-to-day operations, but they do not necessarily involve hardware or software directly. Managerial controls focus on the governance aspect, such as risk management and compliance, which is more about policies and management oversight. Physical controls refer to measures that physically protect the assets like locks or security guards, rather than focusing on technology-based solutions.