Introduction to risk management and its component, Computer Network Security

INTRODUCTION TO RISK MANAGEMENT

Risk management is the procedure of identifying and controlling risks facing an organization. Risk management is the discipline which is employed for identifying, monitoring and limiting risks. In some of the cases the acceptable risk can be near zero. Risks can occur from accidents, natural calamities and disasters as well as deliberate attacks from an adversary. The several components of risk management and their relationship to each other are shown in Figure given below.2.1.The main ISO standards on risk management include in businesses, risk management organized activity to manage threats and uncertainty and involves people following procedures and by using tools in order to ensure conformance with risk management policies
 
Components of Risk Management

The whole process is made up of 2 major components. They are

• Risk identification is the procedure of examining and documenting an organization’s present information technology security situation.
• Risk control is the procedure of applying controls to reduce risks to an organizations data and information system.

Risk management is used in the public sector to identify and mitigate the risk to critical infrastructure. These methodologies comprise of the following elements, performed in the following order.

• identify assets and identify which are the most critical
• identify, characterize, and assess the threats
• assess vulnerability of critical assets to specific the threats
• determine the risk (that is the expected consequences of specific types of attacks on specific assets)
• identify the methods to reduce those risks
• prioritize the risk reduction measures based on strategy

 

 

1319_component of risk management.png

Posted Date: 10/8/2012 5:44:17 AM | Location : United States







Related Discussions:- Introduction to risk management and its component, Assignment Help, Ask Question on Introduction to risk management and its component, Get Answer, Expert's Help, Introduction to risk management and its component Discussions

Write discussion on Introduction to risk management and its component
Your posts are moderated
Related Questions

Innovative nature of triple key management The triple key management scheme provides secure services by combining different techniques whic contribute to the security and priv

Question 1 (a) Explain briefly the following terms as used in network security: (i) Denial of service (DoS) attack (ii) Birthday attack (iii) DeMilitarized Zone

QUESTION: (a) Ethernet has grown in popularity in the recent years and is now used in LANs. Give three reasons for the success behind Ethernet. (b) Ethernet uses the CSMA/CD

LOCALITY OF REFERENCE PRINCIPLE:  Principle of "Locality of Reference" use to predict computer interaction patterns. There are two patterns shown as follows: a) Spatial loca

Application-Based IDS Application-based IDS (AppIDS) is an advanced version of HIDS. It examines application for abnormal events. The ability to view encrypted data is the uniqu

I have an assignment of Computer Security to submit. Will you guys help me making my assignment???

(a) Describe RSA encryption. (b) For an RSA encryption the values of the primes are: p=29, q=31. select e=11, evaluate the public and private keys. (c) How can RSA be used fo

Example 3: Logic bombs In the year 2000, Timothy Lloyd was found responsible of causing $10 million and $12 million of damage to Omega Engineering, an American company specializ