Cyber Security Risk Assessment Report for Gigantic Corporation

ITC 596: IT RISK MANAGEMENT
ASSESSMENT 3
Cyber security
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Table of Contents
Executive summary.........................................................................................................................3
1. Introduction..................................................................................................................................6
2. Overview of risk assessment.......................................................................................................8
3. Risk Assessment based on Threat, Vulnerability, and Consequences.........................................9
3.1 Risk Assessment....................................................................................................................9
3.2 Key threat agents..................................................................................................................10
3.3 Mitigating the risks..............................................................................................................16
3.4 Recommendations................................................................................................................16
4. Summary....................................................................................................................................18
4.1 Literature review of protection mechanism.........................................................................18
5. Conclusion.................................................................................................................................20
6. References..................................................................................................................................21
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Executive summary
The report is reflected by an IT risk assessment lead consultant to the Gigantic Corporation’s
management system. This report describes a cyber security system which aims to provide
security and protection from cyber attacks and crimes. The report also involves the translation of
technical risks in the form of business language for facilitating effectual decision making. The
report also describes the interfacing between technical experts and stakeholders. The report is
based on management of risks that occur due to an implementation of cyber security project. The
report discusses policies and procedures of an organization in the context of cyber security.
The main part of report covers the purpose, scope, overview of technology and risk assessment.
In this report, the cyber security system is described as the risk assessment project which
involves various pros and cons. An overview of risk assessment is described along with their
cause and effects. The risk management approaches and methods also provided with some risks
and threats. The impact of threats and vulnerabilities are also described in the below report along
with threat agents. The losses of confidential data and information are also described in risk
assessment project report. The report also explains a cyber security system of an organization
which leads to some risks and difficulties. The threats and their description are presented by a
table that defines different threats of cyber security. The vulnerabilities due to threat agents are
shown in a tabular form. The risk assessment area involves various factors with mitigation and
management procedures. The legal term and policies of company are also included for
initializing the risk assessment project.
The cyber security system is a design and practices which protects the networks and data from
the attack, damages, and authorized access. The effective cyber security reduces the threats of
attacks and protects businesses from unauthorized exploitation with respect to networks and
devices. This report provides a solution to identify attackers and criminals by using this risk
assessment approach. There are also some recommendations provided that impact the growth of
an organization. At last, a solution is provided along with some recommendations based on a risk
assessment report. A summary is described in the context of an overall report on the cyber
security of an organization. The overview of cyber security is explained as follows:
The cyber security plays a vital role in IT industry that manages network system to protect
information and data. The increasing technology and smart devices create complexity for
protection. The organization faces many challenges and risks with cyber security that decays the
potential growth as well as reputation. The internet connected systems include hardware and
software tools and data that might be protected through cyber security approach. The
organization leads to loss of computational data and physical data due to cyber attacks. The
unauthorized access of data and information can be protected through both physical and cyber
security system. The cyber system involves data loss and information theft due to external and
internal attacks. The cyber security comprises the information security that maintains the
confidential data and information of company which included in the risk management report.
Some recommendations are included in this report as mention below:
 Information update
 Follow the company's rules and procedures
 Updating the software version
 Insurance of cyber data
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 Website protection with security layers
 Data backup on regular basis
 Enable firewall network and firewall applications
 Follow cyber security term and conditions
 Check network authorization and protection
 Installation of cameras and scanners at organizations
 Prevention from data loss
The report also contains a brief summary of the risk management report which involves the
implementation of security processes. The result finds some methods for prevention and
mitigations that controls the cyber risks of an organization. The techniques and recommendations
are useful for financial growth as well as business growth.
The mitigation steps and recommendations are described for improvement in cyber security
network system which can identify the threats and risk. The risk measures and their controls also
implemented with the help of some mitigation strategies and recommendations.
 System maintenance and physical security
 Identify external and internal attackers
 Improve the security policies
 Password generation and layer prevention
 Documentation for legal policies and accessing of information
 Protect website and information with the segmentation method
 Develop a training system for employees
 Employ strict policies for vendor and outsiders
 Monitoring of cyber prevention system
 Use IPS and IDS for protection
 Installation of the latest version of the software
 Detection of malware and hackers
 Use antivirus applications for strong security
 Identify the criminal activity through spam emails and unauthorized user
 Risk prevention devices and planning
 Prevent organization information from unauthorized access
 Plan a risk management regarding IT industry
The cyber security risk assessment report also includes the summary of the overall report which
depicts some protection mechanisms. The protection mechanisms are introduced for increasing
the network security of an organization. Some key points are included in the protection
mechanism that allows the user to develop in the cyber system.
The protection mechanism overview involves some key methods for improvement as shown
below:
 Encryption of data
 Enabling firewalls
 Employ a protection layer and protection sphere
 Use of intrusion prevention and intrusion detection
 Scanning and auditing process
 Vulnerability scanners
 Backup of data
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 Software updating process and installation
 Secure customer data and information
The conclusion also included in the risk management report which describes the overall project
implementation process in IT risk assessment control framework. The risk control techniques
and methods also defined regarding in an organization. Cyber security risk assessment and
management helps the corporation from data and information loss.
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1. Introduction
The risk with technology is increasing day by day as mentioned in the IT risk assessment report.
The report is based on Risk assessment in IT Corporation with cyber security. As a lead
consultant of ‘IT risk assessment’ in Gigantic Corporation cyber security, the management report
is described. The detail information of cyber security in Gigantic Corporation has been presented
with management report. The term cyber security defines the management and mitigation of risk
assessment in organizations to protect their critical assets. The cyber security is a priority for any
organization to protect their data and information form hacking. The cyber risk is increasing
rapidly in few organizations that impact the organization’s assets. The risk management of cyber
security system describes threats and vulnerabilities.
The cyber security plays a vital role in IT industry that manages network system to protect
information and data. The increasing technology and smart devices create complexity for
protection. The internet connected systems include hardware and software tools and data that
might be protected through cyber security approach. The organizations face many difficulties
due to loss of computational data and physical data. Cyber system creates several risks in
transferring and receiving the data that can mitigate through cyber security model and
approaches (Ashibani, et. al., 2107). Cyber security also involves the cyberspace which utilizes
electronic communication medium for online global network system with the help of virtual
networks. The Cyberspace is a big platform of computer networks which provide facility to
employ IP and TCP protocols for exchanging the worldwide information through
communication. The virtual world and interactive environment is the main feature of cyberspace
which provides a wide range of network over the worldwide.
A cyberspace helps user to provide different communication medium via various methods and
techniques. It also permits users to exchange the information, interaction, switches ideas,
engagement of social activities; develop business ideas and other communication activity (Chen,
et. al., 2018). The cyberspace helps to control the risk and overcome the threats through an
interactive environment.
Purpose
The purpose of the report is to provide a risk assessment report on management by interfacing
between stakeholders of company and technologists. The report will explain the technical
difficulties in Gigantic Corporation with the cyber security. Apart from this, the threats,
vulnerabilities, and consequences also will be discussed on the behalf of IT control framework.
The impact of risk assessment with the result also will be identified for mitigation plan.
Project scope
The project scope includes some benefits of cyber security system in an organization where some
factors affect the security. The risk assessment is developed for interfacing of web applications
in a business environment. The risk management covers all policies and procedures of
organization which help to maintain the data and information. The assessment includes various
methods and models which lead to improving that cyber security system. It will help to protect
legal and confidential information of company. The cyber security risks impact the
organizational security and protection which identifies some threats and vulnerabilities. The
assessment report collects the all affecting factors to resolve the management issues.
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