1. The five tasks required ready for risk assessment are:
Step 1: Identification the assessment purpose: In order to the current prevailing situation the organization needs to understand the difference between “hazards” and “risks”. A hazard is the potential to cause harm; whereas risk is the likelihood of the released potential harm (Sharma, Kottahachchi & Theebaprakasam, 2013). It can be easily identified by using a couple of technique around the employee workplace.
Step 2: Identify the scope of the assessment: This step of risk assessment helps the organization to determine: (i) what categories are transmit the assessment, (ii) it specifies (how and what) part of the assessment are get affected in the organization, (iii) decision making process involved in the risk assessment, (iv) at what time span organization rules are relevant and (v) what influence the organization to update the risk assessment (Kim, Kim & Park, 2014). The scope of risk assessment also implies the overall information and report of conducting the assessment. It mainly depends upon the organization authorization boundary of information system (Kottahachchi, Shih & Theebaprakasam, 2015).
Step 3: Identification of constraints and assumptions associated with the assessment: It is very important to make certain assumptions and constraints for higher clarity as it helps the company management to increase productivity of assessment results. It includes threats events, threats sources, vulnerabilities conditions and approaches of assessment. Besides these, organizations also tend to identify several constraints which include availability of resources, skills assessment and business operational activities.
Step 4: Identification of sources of information in input assessment: The fourth step of risk assessment enables the organization to determine the vulnerability and threat relevant information. It generally divided into two segments internal sources of information and external sources of information (Sharma, Kottahachchi & Theebaprakasam, 2013). The sources of information include the information like business processes, functional management processes, enterprise architecture and organization environmental infrastructure.
Step 5: Review the risk assessment: In this approach, the organization facilitates and identifies the type of models used to accelerate the risk assessment task.
2. The threats that are associated with privileged user accounts are:
3. There are various types of risk involve in company management, information system technology risk and business process level risk. These primary risks are classified into strategic risk, financial risk, operational risk and hazard risk (Sharma, Kottahachchi & Theebaprakasam, 2013). It is very important to make certain constraints for higher clarity as it helps the company management to increase production assessment. It includes threats events, threats sources, vulnerabilities conditions and approaches of assessment. The sources of information include the information like business processes, functional management processes, and enterprise architecture and organization environmental infrastructure.
Risk at organizational level: The risks involved in organizational level includes: acquisition risks, regulatory or compliance risk, legal risk, financial risk, safety risk, program risk, operational risk, supply chain risk, supply chain risk and tolerance risk. Additionally, there are several risk involved in internal company management like: operational planning risk, interim report risks and strategic risks (Hamlen & Thuraisingham, 2013).
Risk at business process level: The risk at business process level includes: defining the core business process and missions with company aim and objectives, developing an organizational narrow details; protection incorporating strategy, accelerating the degree of autonomy for manipulating organizations with the parent company management which includes accepting, mitigating, evaluating and accessing and data security risk. Other business process risk includes: action plan risks, evaluation risk and establishment risk.
Risk at information system level: The risk involved in information system level includes information quality risk, equipment software risk, contingency planning risk, security architecture risk, data accuracy risk, project team risk, usability risk, political and strategic risk and resources risk. Additional there are various risk involved in information system like technical risks (communication issue, lack of experimented testers, human factor and poor coding factors) and functional risks (inexperience of a project leader, misevaluation of load and lack of client maturity).
4. The recommendations based on risk identified:
As the researcher has surveyed many case studies and research paper based on risk assessment it is to be recommended that:
Hamlen, K. W., & Thuraisingham, B. (2013). Data security services, solutions and standards for outsourcing. Computer Standards & Interfaces,35(1), 1-5.
Kim, Y., Kim, I., & Park, N. (2014). Analysis of cyber attacks and security intelligence. In Mobile, Ubiquitous, and Intelligent Computing (pp. 489-494). Springer Berlin Heidelberg.
Kottahachchi, B., Shih, K. Y., & Theebaprakasam, A. (2015). U.S. Patent No. 9,152,783. Washington, DC: U.S. Patent and Trademark Office.
Sharma, H., Kottahachchi, B., Theebaprakasam, A., & Shih, K. Y. (2013).U.S. Patent Application No. 13/485,408.
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