the textbook discusses risk and distinguishes IT risk informally, but does not e
ID: 3665618 • Letter: T
Question
the textbook discusses risk and distinguishes IT risk informally, but does not explicitly define IT risk. Wikipedia () [2] has an article devoted to IT Risk, which clarifies many of the new facets of risk that have been introduced by IT.
Imagine that you are an IT manager in a medium-size organization with 200 IT professionals. The CIO has asked you to develop a presentation covering the top 10 things the IT professional needs to know about IT risk. Utilizing our text, solid sources from the web and library, and other course materials you have studied, develop a set of notated presentation slides that cover what your CIO wants. Hint: Start by defining risk and
distinguishing it from (the definition of) IT risk. Cite your sources.
Explanation / Answer
ppt is not getting attached. so i had to directly type
Risk :
Risk is the potential of gaining or losing something of value
IT risk :
The potential that a given threat will exploit vulnerabilities of an asset or group of assets and thereby cause harm to the organization. It is measured in terms of a combination of the probability of occurrence of an event and its consequence.
IT-related risks may arise from :
General IT threats
IT risk management :
IT risk management is the application of risk management methods to Information technology in order to manage IT risk. IT risks are managed following a process
Establish the context :
understand the operating context and environment.
Identify the risks / hazards :
identify the internal and external risks / hazards that poses threat.
Analyze the risks :
systemic analysis of various contributing and leading factors.
Evaluate and prioritize the risks :
characterize and prioritize the list of risks for further action.
Tackle the risks :
Identify the range of options to tackle the risk & implement the best choice using available resources.
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