Four questions for credit to be given: (1) Describe the key components of a risk

Question

Four questions for credit to be given:

(1) Describe the key components of a risk management process checklist. How does the checklist process benefit an organization?

(2) Identify some of the people/groups who are stakeholders for large projects. How and why do these need to be considered in risk management?

(3) Based on the Ledford (2012) article, what is the purpose of the Federal Information Security Management Act (FISMA)? Does it apply to all federal agencies?

(4) Based on the Ledford (2012) article, do you think the Federal Information Security Management Act (FISMA) might provide the basis for a standard framework for enterprise risk management adaptable to the private sector? What are the major issues to consider?

Explanation / Answer

1)

Key Components of the Risk Management Program

1. Support of Senior Management

Develop an organisation risk management philosophy and awareness of risk at

senior levels.

2. Development of the Risk Management Framework

a) Policy

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