Introduction to risk management and its component, Computer Network Security

Assignment Help:

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


Related Discussions:- Introduction to risk management and its component

Balancing security and access-information security, BALANCING SECURITY AND ...

BALANCING SECURITY AND ACCESS Even with best planning and implementation, it is impossible to obtain perfect security, that is, it is a process, not an absolute. Security should

Policy management-information security, POLICY MANAGEMENT Policies should...

POLICY MANAGEMENT Policies should be managed as they constantly change. Good policy development and maintenance make a more resilient organization. All policies undergo tremendou

Introduction to planning for security, INTRODUCTION TO PLANNING FOR SECURIT...

INTRODUCTION TO PLANNING FOR SECURITY The creation of an information security program begins with creation and review of organization’s information security policies, standards,

Distinguish between passive and active attacks, Problem (a) Distinguis...

Problem (a) Distinguish between passive and active attacks. (b) Give two reasons why it is important to organise security awareness programs for users. (c) Describe how

How does tcp perform the functions, Problem: (a) Assume that a new ap...

Problem: (a) Assume that a new application layer protocol is developed for video conferencing application. Which transport layer protocol, between TCP and UDP, will you u

Tracing a route, There is another probing methods i-e Trace Route. To get m...

There is another probing methods i-e Trace Route. To get more detail it is used     As given in the figure about the route to DANDELION-PATCH.MIT.EDU was looked out a

Application-based ids, Application-Based IDS Application-based IDS (AppI...

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

Security clearances-information security, Security Clearances For a secu...

Security Clearances For a security clearance in organizations each data user should be assigned a single level of authorization indicating classification level. Before approachi

Distinguish between steganograhy and cryptography, Question: (a) Disti...

Question: (a) Distinguish between Steganograhy and Cryptography. (b) "Playfair cipher is more secure than Monoalphabetic cipher." Justify this statement. (c) Various ap

Reason for multiple topologies, REASON FOR MULTIPLE TOPOLOGIES Every t...

REASON FOR MULTIPLE TOPOLOGIES Every topology has disadvantages and advantages, which are described below: IN A RING:  It is simple to coordinate access to other dev

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd