IT Risk Management: Cyber Security

Running head: IT RISK MANAGEMENT
IT Risk Management: Cyber Security
Name of the Student
Name of the University
Author’s Note:

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IT RISK MANAGEMENT
Table of Contents
Executive Summary...................................................................................................................2
Introduction................................................................................................................................4
Risk Assessment.........................................................................................................................4
Various Threats and Vulnerabilities in Cyber Security.........................................................4
Risk Assessment on the Identified Risks in the Cyber Security............................................7
Consequences of the Identified Risks derived from IT Control Framework.........................9
Recommendations for the Project........................................................................................10
Mitigation of Risks and Impact on the System....................................................................11
Literature Review.....................................................................................................................13
Protection Mechanisms Required for Information Security in the Project..........................13
Conclusion................................................................................................................................15
References................................................................................................................................17

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Executive Summary
The major objective of this report is to learn about the case study of Gigantic Corporation.
The organization would be eventually executing a significant project on the cyber security,
known as Cryptography. This particular organization has hired a specific information
technology risk assessment lead consultant within their company. The major role of the
information technology risk assessment lead consultant will be providing the significant
interface within the technologists as well as the respective business stakeholders. Moreover,
this particular risk assessment consultant will have to translate the significant technical
difficulties and issues to the risk language with the core purpose of facilitating the efficient as
well as effective process of decision making by their stakeholders.
The cyber security can be described as the basic protection of various internet connected
systems that involve the hardware, data and software from all types of cyber attacks. Within
the context of computing, this security consists of two distinct kinds, which are physical
security and cyber security. These two types of securities are being utilized by the
organizations for properly protecting against any type of unauthorized or unauthenticated
access to the data centres or the computer based systems. The information security that is
being designed for the proper maintenance of CIA or confidentiality, integrity and the
availability of sensitive data is the major subset of this cyber security. The main elements of
this cyber security that need the proper coordination of the efforts within any information
system are application securities, information security, network security, business continuity
planning, disaster recovery, operational security as well as the end user education.
The organization of Gigantic Corporation Company has eventually hired the significant
information technology risk assessment leading consultant for the basic purpose to identify
the several IT related risks in the project of cryptography as well as cryptographic algorithms.

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IT RISK MANAGEMENT
The specific cryptographic algorithms and techniques are majorly responsible for securing
the cyber related issues within any particular system. Cryptography is the basic practice of
several techniques that help to secure confidential data or information in the significant
presence of the adversaries or third parties. Cryptography majorly depends on the proper
construction as well as analysis of the protocols, which could eventually prevent the third
parties or even the public from simply reading the several private messages as well as the
several features within the information security like the data confidentiality, integrity, non
repudiation, availability and finally authorization or authentication. The various applications
of this cryptography majorly involve the digital currencies, confidential data
communications, electronic commerce, computerized passwords and various others. The
cryptographic algorithms are eventually designed for various assumptions and hence these
algorithms are quite tough for breaking by the adversaries.
Cryptography is considered as the basic threat within cyber security. The Gigantic
Corporation Company has hence chosen the specific project of Cryptographic algorithms for
the area of cyber security. There are various types of threats within the cyber security.
Amongst them, the most significant threats are social engineered Trojans, phishing, advanced
persistent threat, unpatched software like Flash, Adobe Reader and Java, botnets,
ransomware, distributed denial of service attacks, data manipulation, and malware, man in the
middle attacks, network travelling worms and various others. These above mentioned cyber
threats are extremely vulnerable and destructive for the information systems and hence
should be mitigated with proper measures.
The report has clearly identified each and every risk related to their area of cyber security and
could be then mitigated by undertaking some of the most significant and proper measures of
cryptography within this company called Gigantic Corporation. Their information technology
risk assessment leading consultant has recognized and the consequences are also provided.