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

Cipher Methods There are 2 methods of encrypting plaintext: • Bit stream method – every bit in the plaintext bit is transformed into a cipher bit one bit at a time. • Block cip

Problem 1: What does the SNMP access policy show? SNMP community diagram SNMP access policy Problem 2: Does there exist any formal functional specificat

Computer networks is a complex subject due to the given reasons: MANY DIFFERENT TECHNOLOGIES EXIST: The first reason for the complexity of networks is that there are s

QUESTION: a) Explain four issues that are generally addressed in the Needs Analysis phase in the building-block approach to network design. b) Sketch a typical hybrid star-b

UDP INTERACTION  UDP follows four kinds of interaction 1-to-1: One application can interact with one application. 1-to-many: One application can interact with many

How safe is the encryption of virtual private networks?

Q. Attacks on wireless network WSN are vulnerable to attacks which compromise the integrity of the WSN nodes by decreasing the nodes' fault tolerance capabilities, data distrib


FRAGMENT IDENTIFICATION: IDENT field in every fragment matches IDENT field in real datagram. Fragments from different datagrams may arrive out of order and still be saved out.