When planning any kind of project, especially an information security project, risk analysis is very important. Risk analysis, in the context of information security, is the process of assessing potential threats to an organization and the overall risk they pose to the continued operation of the organization. There are multiple approaches to risk analysis, and multitudes of literature have been published on the subject.
In their paper published in 2012, Bhattacharjee and associates introduced two approaches to the risk assessment of an information security system. Bhattacharjee and associates’ method is a two-stage method, with a consolidated analysis, identifying a single risk value for each asset, and a detailed analysis, which defines a threat-vulnerability pair for each risk factor (Bhattacharjee, Sengupta, Mazumdar, & Sankar Barik, 2012).
The method first identifies assets and defines seven requirements factors for each: confidentiality, integrity, availability, authenticity, non-repudiation, legal, and impact of loss. Each of these factors is assigned a sliding scale value based upon the intensity of the specific requirement (Bhattacharjee, Sengupta, Mazumdar, & Sankar Barik, 2012). Once all assets have been given their requirements values, the overall asset value is defined. This value is combined with the security concern value, “a function of threats and vulnerabilities associated with an asset” (Bhattacharjee, Sengupta, Mazumdar, & Sankar Barik, 2012). to assign an overall risk factor value to the asset.
Once the consolidated step is completed a detailed risk analysis is performed. This analysis begins by identifying security requirements that have been assigned a value of greater than two. Threats and vulnerabilities ...
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Risk management is among the most important practices in the field of project management. A successful project completion and risk management often go side by side. An interesting aspect of project management is that a project can sti...
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In Capital Budgeting Simulation, Net Present Value (NPV), Internal Rate of Return (IRR), and Profitability Index (PI) can be analyzed two mutually exclusive capital investment proposals. Silicon Arts Inc. (SAI) is a four-year-old company, manufactures digital imaging integrated Circuits (ICs) that need to analyze two capital investment proposals to pursue its growth plans. "SAI’s Chairman is planning to increase market share and keep pace with technology, which can be done by either expanding the existing Digital Imaging market share or entering the Wireless Communication market," (Simulation, UOP). An analysis reveals that an expansion into the Wireless communication can be beneficial than Dig-Image. However, a number of risks, internal and external are inherent in joining this industry. This paper will analyze investment risk decisions and mitigation of risks by using a number of strategies.
This paper will reflect on the different uses of Project Risk Management and ways in which it can benefit organizations to have the ability to identify potential problems prior to the problem occurring. Risk, this is not something to be taken lightly whilst dealing with matters that include high end projects meeting specific details, deadlines and expectations for the end client. Project risk management teaches one to be aggressive early on in the phases of planning and implementing the tools for a project. This is usually easier as costs are less and the turnaround time to solve the issues at that present moment is beneficial rather than later. The result in a successful project for one’s self and other key people involved in the process is also another requirement. Stakeholder satisfaction is important because the
Taylor, R.W., Caeti, T.J., Loper, D.K., Fritsch, E.J. & Liederbach, J., 2006, Digital Crime and Digital Terrorism, 1st Edition, New York: Pearson Education, Inc.
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