Verified Document

It Risk Analysis Risk Is A Constant Essay

It Risk Analysis Risk is a constant in everyday life. It is part of life, where there are no guarantees. As humans, we have developed or reasoning skills enough to figure out that minimizing risk allows us to live a better life and provide some level of comfort and safety. No one or nothing is 100% safe and so risk analysis is necessary to provide this assistance to inform, protect and guide people and organizations into performing wise and prudent action.

The purpose of this essay is to explain the benefits of performing a risk analysis using information technology to secure data within an organization. This essay will discuss the objective and goal of this analysis as well as suggest ways to discuss these issues with the target audience. This essay will also list the steps necessary for performing a risk analysis and the types of securities that will be recommended. Finally mitigation strategies will be discussed to help describe a continuation plan and keeping risk analysis alive within that organization.

Objectives of Risk Analysis

According to the text the objectives of risk analysis are very simple yet important. The text claims, " risk analysis will always be an art informed by science (p.290)....

This suggests that an open and 'artistic' mind should be maintained when discussing the objective of risk analysis. Essentially risk analysis, as it applies to information or data, is designed to lower the possibilities of having this critical capital stolen or manipulated. Risk analysis should increase an organization's ability to increase their competitive advantage within any given industry and, at the same time, improve levels of efficiency, effectiveness and economic functioning.
Causey (2013) explained that an effective IT security risk analysis plan is critical to the overall security posture of the organization but no single method should be adopted as correct. He wrote " It's important to note that not every IT security risk assessment is alike -- or even remotely close. Indeed, there are many ways to perform IT security risk assessments, and the results may vary widely depending on the method used. It should also be noted that performing a risk assessment is a very small part of the overall risk management process."

Conducting a Risk Analysis

In conducting this analysis a simple three step method is used to guide this process. First the evaluation and general assessment is taken to help…

Sources used in this document:
References

Causey, B. (2013). How To Conduct An Effective IT Security Risk Assessment. Dark Reading, 22 Jan 2013. Retrieved from http://www.darkreading.com/management/how-to-conduct-an-effective-it-security/240146681

Violino, B. (2010), IT Risk Assessment Frameworks: Real World Experience. CSO Online, 3 May 2010. Retrieved from http://www.csoonline.com/article/592525/it-risk-assessment-frameworks-real-world-experience
Cite this Document:
Copy Bibliography Citation

Related Documents

Risk Crisis Disaster Management
Words: 3665 Length: 11 Document Type: Essay

Risk Crisis Disaster Management Managing the problems related to global warming is quite different than responding to a damaging earthquake albeit both strategies require careful planning and coordination. This paper points to the contrasts between the two ways of management and response, and offers suggestions from the literature on pre-planning for both eventualities. Managing Strategies for Serious Earthquakes To say that a major earthquake that hits in an urban area is an acute

Risk and Strategic Management Risk
Words: 3422 Length: 12 Document Type: Essay

Some of the older employees will however retire in the near future and they will have to be replaced. This will not only generate financial investments with the recruitment and training of new staff members, but it could also materialize in a failure to integrate and attract newer employees. To better explain, the process is difficult and tedious and a young candidate may not feel at ease with working

Risk Assessment Report
Words: 4539 Length: 17 Document Type: Term Paper

Risk Assessment at the Wal-Mart Stores Inc. Industry and company information Risk assessment System characterization Threat identification Vulnerability identification Control analysis Likelihood determination Impact analysis Risk determination Control recommendations Concluding remarks Bibliography (Annotated) The current economic climate is more challenging than ever and economic agents face incremental difficulties in registering profits through the serving of a population with a decreasing purchasing power. Nevertheless, in a context in which most economic agents register decreasing revenues, America's number one retailer -- Wal-Mart -- registers growing

Risk of Climate Change Implications for Architects and Engineers
Words: 6494 Length: 25 Document Type: Research Paper

Risks of Climate Change THE RISK OF CLIMATE CHANGE: IMPLICATIONS FOR ARCHITECTS AND ENGINEERS Climate Change Impacts on Engineering Infrastructure Key Impacts on Water and Resources Risk Management Analysis Coping Methods Possibility And Probability Theories Recommendations And Guidelines For The Vulnerability Of Climate Change Impacts Using Risk Management Methods And Analysis THE RISK OF CLIMATE CHANGE: IMPLICATIONS FOR ARCHITECTS AND ENGINEERS This work examines climate change in relation to impacts upon infrastructure, utilities, and water in relation to the

Risk Management in Banks: Reference
Words: 4399 Length: 16 Document Type: Article Review

Hence, we decided to take differnet bank groups and companies (previously highlighted in the pie-charts) and compared the net growth of these selected bank groups in the finanical years of 2006 and 2007. Note that these net profits were claculated with the number of increase or decrease in the overall loans investments in these bank groups. An important thing to note here is that while bank credit is increasing in

Risk Management CAPM and APT
Words: 2664 Length: 8 Document Type: Term Paper

RISK Management - CAPM and APT Capital Asset Pricing Model and Arbitrage Pricing Theory The contemporaneous business community is extremely competitive, meaning as such that the organizational leaders strive harder than ever to overcome the competitive forces. Virtually, they have to hire and retain the best skilled staff members; they have to develop and offer the best quality products and services and they must be able to raise the interest of a

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now