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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Schneider, R. M. (2010). A comparison of information security risk analysis in the context of e-government to criminological threat assessment techniques. 2010 Information Security Curriculum Development Conference (pp. 107-116). New York: Association for Computing Machinery.
Sulaman, S. M., Weyns, K., & Höst, M. (2013). A review of research on risk analysis methods for IT systems. Proceedings of the 17th International Conference on Evaluation and Assessment in Software Engineering (pp. 86-96). New York: Association for Computing Machinery.
National Institute of Standards and Technology (NIST): Risk Management Guide for Information Technology Systems. Special Publication 800-30, 2002.
During the process of analyzing an organizations effectiveness to manage cybersecurity risks, there are ranges of security policies that need to be implemented. A prime example of this concept is the cybersecurity policies developed for consulting firm Booz Allen Hamilton. The direct division formed to address the firm’s requirements within cyberspace is the Cyber Solution Network (CSN). The CSN division within Booz Allen Hamilton has a range of policies used to ensure the firm is protected against risk.
Whitman, M. E. & Mattord, H. J. (2011) Principles of Information Security. Boston: Course Technology. (Whitman & Mattord, 2011)
Whitman, M., & Mattord, H. (2010). Management of information security. (3rd ed., p. 6). Boston, MA: Cengage Learning.
Security architecture is a major component and part of a system’s architecture and is usually designed to provide important guidance during the development of the system. It usually outlines the assurance level required and in the process outlines the possible impacts that this level of security might have on the development process of the actual system. Since security is a major component for the success of any given business unit, it is necessary to have a fully functional and operative security system that meets all the necessary requirements for any organization. Some leading business firms are usually faced with the task of achieving and maintaining high security measures and methods. SecureTek one of the leading provider of security solutions is faced with the challenge of redesigning their security architecture to assure security to the data and the other firm’s valuable assets as well as ensuring security to their customers and employees who encounter risky situations when visiting this business unit.
Security helps the organization meet its business objectives or mission by protecting its physical and financial resources, reputation, legal position, employees, and other tangible and intangible assets through the selection and application of appropriate safeguards. Businesses should establish roles and responsibilities of all personnel and staff members. However, a Chief Information Officer should be appointed to direct an organization’s day to day management of information assets. Supporting roles are performed by the service providers and include systems operations, whose personnel design and operate the computer systems. Each team member must be held accountable in ensuring all of the rules and policies are being followed, as well as, understanding their roles, responsibilities and functions. Organizations information processing systems are vulnerable to many threats that can inflict various types of damage that can result in significant losses (Harris, 2014). Losses can come from actions from trusted employees that defraud the system, outside hackers, or from careless data entry. The major threat to information protection is error and omissions that data entry personnel, users, system operators and programmers make. To better protect business information resources, organizations should conduct a risk analysis to see what
The way forward lays in a security risk management (SRM) approach that protects your company from the most severe threats to critical IT systems and operational processes. SRM helps your organization understand its assets and analyze the vulnerabilities it must address. Security risk management also facilitates internal and external compliance initiatives. It enables your organization to enforce policies that relate to the integrity of customer data, the configuration of corporate applications and databases, and the accuracy of financial reports. Companies that take a systematic approach to SRM reap additional benefits: operational efficiencies that lead to better management of resources and reduced costs. It's up to all the parties involved in the IT operations and security mission to demonstrate that they can take on the demands of this new challenge.
1). There are several different methods available to project and program managers for identifying and dealing with project risks; however, for this scenario the following two methods were used: the risk assessment form and the risk response matrix. The risk assessment form allows project managers to identify risks associated with a project, determine the likelihood of the risk happening, the impact of the risk to the project, how difficult the risk can be to detect, and finally, identify what stage of the project the risk will likely happen. The risk response matrix allows project managers to identity risk associated with a project and determine how to handle the risk by either “mitigating, avoiding, transferring, sharing, or retaining” (Larson & Gray, 2014, p.
In the majority of all project activity, it entails some kind of risk of which may overall impact the successful project completion. Upon the completion of the project with its scope, tasks, budget and timeline, it is imperative to make an overall risk assessment to access any risk that may be considered impactful in the project (Lock, 2007). Any associated risk assessment is well-thought-out
What is risk as it is related to this project? Microsoft defines project management risk as “A risk is the possibility of an event or condition that would have a negative impact on a project. Risk management is the process of identifying, mitigating, and controlling the known risks in order to increase the probability of meeting your project objectives” (Microsoft, 2013). This definition of risk will stand as a point of clarification between JSA and TCP to establish a basic understanding of project management risk.
One of the first steps in developing an effective counterespionage program is to conduct a risk assessment of the organizations trade secrets or sensitive information. Daniel Benny states that when determining the risk, there will be a need to examine the information that is to be protected; what the value of the information is, define would want it; determine how accessible it is; and the impact on the organization should such information be illegally obtained through industrial espionage (Benny, page 51). When the risk assessment shows what the risk and threat are, a trusted person in the organization will need to determine the information they want to protect. Daniel Benny illustrates Threat: risk of threat = severity of threat x probability of occurrence (Benny, page
A process of identifying, analyzing and responding to risk factors throughout the life of a project is called Risk Management (Stanleigh, n.d.). Every Information Technology (IT) project should invest in being proactive rather than reactive. Someone should be identified to gather and minor risks, and work with the teams to develop mitigation plans for those risks associated with the future events. The following risks have been identified with the Omnitracs project.
The Risk Management Framework and associated RMF tasks apply to both information system owners and common control providers. In addition to supporting the authorization of information systems, the RMF tasks support the selection, growth, execution, assessment, authorization, and ongoing monitoring of common controls inherited by organizational information systems. Internal and external to the organization, helps ensure that the security abilities provided by the common controls can be congenital by information system owners with a degree of assurance appropriate for their information protection needs. (Locke & Gallagher,
The first thing that we must consider about Information Security is that there is not a final destination at which we can arrive. IT Security is an ongoing set of processes and activities that requires attention and expertise on a daily basis. It is important to understand that systems are not secured by themselves and it is our responsibility to maintain and improve them periodically as required. It is of vital importance to establish the appropriate mechanisms and requirements in order to support the company’s CIA triad. The following report will provide you guidance about auditing and hardening techniques applied though the 7 Domains by utilizing IT Security Best Practices.
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