Therefore, it is relevant to any company to develop security risk assessment and mitigation strategy to save data from potential external risk. In order to facilitate the process security risk assessment and mitigation strategies with regards to information security, it is relevant to work out a mechanism of dealing with the potential hazard of data steal from any company. On the basis of modern studies, it is relevant to develop a holistic strategy to data security provision that would be based on the principles applicable for any company. This research is focused on considering strategic steps of security management taken in case potential information hazards may occur. The research question is the following: How is it possible for any organization to improve and apply effective information security risk assessment and mitigation strategies. Moreover, it is further on suggested how to work out security risk assessment process. Therefore, a practical aspect of security management is correlated with recent theoretical findings presented in contemporary researches and studies. This research has been mainly developed for the needs of the organizations requiring improvement of information security risk assessment and mitigation strategies. This research is relevant from practical point of view. Though it is based on recent researches and findings in the field of information security, it brings in an innovative vision about the role of information security and strategies directed on dealing with it.