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
QUESTION (a) Consider the following authentication options A. Using password B. Using pin and fingerprint Which option A or B provides stronger security and why? (b

hi have a look and tell me if u can do it. if u can do Q1then i will allow u to do Q2

Question: a) There are two basic approaches to dealing with errors in the presence of pipelining. One way is Go-Back-N and the other strategy is Selective Repeat. i. Explain

Problem: (a) Use a simple example to explain what is meant by a finite state machine. (b) Describe the time limit problem in an interrupt-driven system. (c) A certain m

what is guided media or unguided media

For this assessment, students must research and analyse two different scenarios. The two scenarios must be chosen from those described below and submitted as one Microsoft PowerPoi

Ask question #Minimum 100 words are there non parasitic viruses

QUESTION (a) A convex flow problem is a non linear network flow problem. Explain how a convex flow problem could be transformed into a Minimum Cost Flow problem. (b) Exp

B-Router Hybrid devices that has the features of both routers and bridges . A bridge router or brouter is a network machine that acts as a router and as a bridge. The brout

COLLISION DETECTION The signals from two devices will interfere with each other and the overlapping of frames is known a collision. It does not cause to the hardware but data