IT Risk and Cloud Computing Assignment
12 Pages5400 Words80 Views
Added on 2020-04-01
IT Risk and Cloud Computing Assignment
Added on 2020-04-01
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Running Head: IT RISK ASSESMENT 1IT Risk Assessment
IT Risk Assessment 2Executive Summary The report has discussed the IT risk issue raised due the adoption of cloud computing in Aztek Corporation. IT security is significant aspect of the IT infrastructure of Aztek Corporation. In the present times, the IT security is vital because most of the organizations are using digital mediums for the transmission, reception and storage of the information. The organization would be able to protect itself from the external data breaches. Accessing data from the external places has become easier. In digitalization of the services, a hacker can access the information database from any other part of the world. The information security is especially important in the financial industry as they collect sensitive data regarding the personal bank account number and credit or debit card details of the organization. The business organizations in the financial industry should be more careful regarding the confidentiality of theuser data. The business organizations should be implement security measures and protocols so that no unauthorized user can access the information of the organization. Aztek Solutions is trying to increase theefficiency of the organization. The deployment of external cloud service provider will be beneficial for the organization. It is cost-effective and can result in optimization of resource. It is important that organization should not investment in the employment of new IT infrastructure in the organization. However, several novel risks hae increased. With the deployment of cloud services in the organization, the current security stance of the organization is incapable of protecting the confidential information of the organization. Currently, the company has implemented security protocols such as implementation of firewall and intrusion detection system for protecting the organization from the external attacks. Other than that, the organization has also started monitoring the user activity. However, the threat landscape for the organization will change if the cloud service will be employed in the organization. The business organization will lose control over the information and external access to the information will become easier. It is due to the fact that the information will be stored in shared resources. Other than that, there will be more regulations regarding the compliance and accessibility to the information. Aztek Corporation will also need additional policies and regulations to protect it from any future data breaches. A governing body should be made which can control the access to the data. It should also contain guidelines regarding the issues which will happen if the supplier fails to comply by the privacy guidelines. The selection of vendor should also be done on his past records.
IT Risk Assessment 3Table of ContentsIntroduction.................................................................................................................................................4Review of the Project with Respect to Financial Sector...............................................................................4Review of Project Impact on Current Security Posture of Aztec..................................................................6Risk Assessment on Cloud Service Deployment..........................................................................................6Addressing the Risk for Data Security..........................................................................................................8Conclusion...................................................................................................................................................9References.................................................................................................................................................10
IT Risk Assessment 4IntroductionIn the present times, IT has been crucial in increasing the productivity and the efficiency of the business organizations. All the business organizations are using digitized mediums for different operations of the organization. Aztek Solutions is a financial business organization which deals with highly confidential data of the consumers. However, the risks and vulnerability dynamics of the organization has hanged with the increased with the advent of technology. Therefore, it is important that the organization should conduct a risk assessment and examine the risk associated with the deployment oftechnology. The company should examine several risks associated with the deployment of IT services andaddress them for increased efficiency. The data collected by the financial organizations is very crucial as it contains crucial details regarding the personal data of the organization like bank account details, credit or debit card number and passwords (Almorsy, Grundy & Müller, 2016). Therefore, it is important thatthe data is protected by the business organization. Other than that, there is also several compliance relatedrisk faced by the business organizations. The government has made several laws related so that the privacy of the consumers can be protected. It is important for the financial organizations to abide by theselaws to continue their operations. In this regard, the present report will examine the risk, vulnerability andthe threat associated with the implementation of the cloud computing in the organization. Currently, the company is examining the deployment of various IT infrastructural services, namely, cloud computing, bring your own device and other technology for increasing the proficiency in the operations of the organization. The company has chosen the employment of cloud services in the organization (Almorsy, Grundy & Müller, 2016). There are several benefits of cloud computing deployment such as optimal use of the organization’s infrastructure and reduced expenditure of the organization. When deploying the cloud services, the organization will use the service of external service provider which will reduce the burden of work on the employees. The employees will be able to devote their time in more productive operations rather than the maintenance of their operations. The present report will discuss the issues associated with the cloud service deployment in the financial sector and how the organization can adapt tothese changes. Review of the Project with Respect to Financial SectorThe cloud computing is a technology which achieve optimization in resource utilization and cost by sharing of the resources. There is a cloud service vendor which allows the business organizations to store data on online mediums by charging specific fees (Armbrust, Fox, Griffith Joseph, Konwinski, & Zaharia, 2009).. Several business organizations can avail the services at a single time as the vendor offer different portions of memory storage to different clients. With this technology, the customers do not have to invest in infrastructure required for setting up the services. The organization can avail the servicesat a minimal cost by paying a rent for it (Grobauer, Walloschek, & 2011). Currently, a large number of financial organizations are using cloud services due to its immense benefits. The cloud allows the business organizations to store large amount of information on online mediums at minimal cost. This information can be accessed from anywhere and any person can access it, who has the key or password to access this information (Hashizume, Rosado, Fernández-Medina, E& Fernandez,2013). It offers increased accessibility to the data which is beneficial for increasing the
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