Importance of IS/IT Risk Management Practices for Cyber-Resilience

IT Risk Management 1
Importance of IS/IT Risk Management Practices
10 May 2018

IT Risk Management 2
Table of Contents
Introduction......................................................................................................................................3
IS/IT Risk Management Practices to improve Cyber-Resilience....................................................3
Importance of Practices of IT Risk Management........................................................................4
Conclusion.......................................................................................................................................6
References........................................................................................................................................8

IT Risk Management 3
Introduction
This report is based on the concept of information technology risk management practices that are
important to improve organization’s cyber-resilience. For every small and large business
organization cyber-resilience plays a vital role. Resilience is defined as the toughness and
capacity to willingly recover the shocks and assaults. Therefore, cyber-resilience can be defined
as the capacity for an enterprise to come back to the stable and operational state and that way to
recover from the adverse effects of risks and threats of the cyber-security. Nowadays, in business
organizations online applications are used to perform different business activities. While using
these applications, an enormous amount of information is transferred from source to destination
and also stored into online databases (Vincent, Higgs and Pinsker, 2017). Today, the chances of
hacking, phishing, virus attacks and other cyber-crime issues are increasing that lead to violation
of the security and privacy of the confidential business information. In this case, cyber-resilience
is required by the business organizations to get protection against cyber-crime issues. There are
different ways in which cyber-resilience is maintained in business enterprises. But IS/IT risk
management practices can be more helpful in it. The next segment of this report emphasizes on
the key practices of IS/IT Risk Management that are helpful to improve an organization’s cyber
resilience.
IS/IT Risk Management Practices to improve Cyber-Resilience
IT risk management is a process which is implemented to manage the business risk. It is an
ongoing process and it has potential to resolve the cyber-risk factors properly. Furthermore, IT
risk management process has potential to examine the risks and security objectives that occur
within a business environment (Solutions, 2018). The process of IT risk management is
implemented by the IT managers and they maintain the balance between the economic and