As technology grows and information has become a critical asset companies currently are devoted their resource and money to protect their data as important as their finance and human resource assets.
Define the scope of each risk posed – how bad would it be for the project and the organisation if the particular risk eventuated?
With these risks highlighted then reduction of risk, both positive and negative can be identified.
Most organizations with company data files must predict that it is possible that someone would possibly hack into their files and cause a potential data breach.
Company must also develop a clear structure for granting employees access to sensitive information. Not all employees need such data in order to fulfill their everyday job responsibilities. For those who need admission to sensitive information, a strong authentication mechanism must be developed, which cannot be bypassed. This will ensure that only authorized users are accessing compromising data.
In today’s IT world every organization has a responsibility to protect the information and sensitive data they have. Protecting data is not only responsibility of security and IT staff but every individual is involved in protecting the information. The risks to information security are not digital only, but it involves technology, people and process that an organization may have. These threats may represent the problems that are associated to complex and expensive solution, but doing nothing about these risks is not the solution.
1. Distinguish between pure risk and speculative risk. List and explain in detail the three kinds of pure risk.
* There are three (3) schools of thought regarding risk. The first considers the positive and negative aspects of risk, but sees them as separate. The second group believes that there are benefits from treating threats and opportunities together, while the third school does not label uncertainties, but addresses uncertainty as part of “doing the job.” Argue the value of having a risk strategy despite the cost associated with it. Include an example to support
7. Now assume that projects are identified within divisions as being high risk, average risk, or
Restricting access to sensitive information plays a vital role in the success of any organization. Information is deemed sensitive when it needs protection from unauthorized access. Protecting this information is essential in safeguarding security and privacy of an organization. Thus, an organization such as Bank of America has taken measures geared towards protecting its sensitive information from unauthorized access. Just like other organizations, Bank of America has two types of sensitive information. The first type of sensitive information is personal information. This is data that may affect an individual if
can protect the company if wisely implemented, a recent security breach, and concerns over the
3. What is (are) the critical path(s) in the project? What is the level of risk in completing tasks on the critical path(s)? Explain.
C. Preview of Main Points: In doing so, I will talk to you about 1) reducing your risk, 2) early detection, 3) How to act quickly.
Almost all kind of large and small organizations might face increasing number of attacks into their network or intellectual property. This may lead to data disclosure, data destruction, and damage of organization’s reputation. There are numerous threats in the cyber space which might be capable of stealing, destroying or making use of out sensitive data for financial and non-financial gains. As the amount of computer, mobile and internet users increases, so does the number of exploiters.
2. Several types of risk are present in the American economy. For each of the following, identify the type of risk that is present. Explain your answer.