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Risk Management Assignment | IT Assignment

   

Added on  2020-06-06

16 Pages5525 Words51 Views
IT Risks Management

TABLE OF CONTENTS1. Executive Summary.....................................................................................................................22. Government and industry regulation to protect companies from hacking:.............................33. Security posture.......................................................................................................................54. Threats, vulnerabilities and consequences assessment...........................................................75 Data security.............................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................121

1. Executive SummaryInformation technology is one of the major part of the global industry. It has increasedproductivity in the world and has taken one of the major part of the economic growth. ITindustry has taken various aspects in terms of development of the country. The organisationwhich operates in this industry has to hire the best technical applicants which can help them toresolve their technical related issues. In this report, the focus is given on IT security and riskmanagement which the company its facing while operating its business. The organisation hasallowed its employees to bring their laptops, tablets and mobile phones so that they can completetheir tasks easily. Further, the Aztek has used various cloud computing technology to move their data onthe cloud. This will help the company to safely place its bulk of information on the cloud as it isthe best medium to store its several important information. Further, Aztek has implementedvarious IT technologies like online software which helped the customers to transfer and pay theiramount through online. Further, it has introduced various ATMs and other system which hasreduced efforts of employees and customers. It has also made use of mobile apps networkingtechnologies like Ipv6 which helps in securing data and upgrading users account relatedinformation up to date. All theses technologies has played an important role in maintaining thebusiness operations of Aztek in Australia.The final assessment for ITC 596 is to deliver IT Risk Assessment Case Study in supportof a significant technology decision that is to be taken by a fictional company called Aztek. ITC596 case study has been taken into account to understand the business operation of the companywhich is working on reducing IT risks and problems. Stakeholders has also faced differentproblems due to failure of IT technologies while investing their funds in companies differentpolicies. They have tried to find various solutions so that they can easily understand differentnorms and conditions of Aztek and invest their money successfully. Stakeholders have alsomade clear opinions which they have understood properly and use them directly in making theirdecisions. Further, the risk of bringing personal devices like laptops, tablets and mobile is discussed.The organisation is facing the problem of employees distraction from their work and their lesscontribution towards organisation's targets etc. Due to their insecure system Aztek is facingproblems of their system and server failure which are creating great problems for them. This has2

also included various problems like hanging, hacking of important information, lose of importantinformation etc. Further, this has also affected the performance and reputation of the company.Further, this has also affected their soft running operation of the company which has adverselyaffected their image in front of their customers. IT security policies and procedures are taken bythe finance company Aztek to reduce IT risks and challenges. It has employed various technicalstaff which is expert in resolving technical issues and handling various challenges from hackers,viruses and bugs. It has also hired experts which protects their company from serious anddangerous threats of cloud computing and other technologies. The organisation has also takendata security measures so that they can control the illegal activities of their employees in theworkplace. Thereafter, recommendation are given to improve the productivity of the company.2. Government and industry regulation to protect companies from hacking:To protect companies and customers from fraud, the government has made various rulesregarding their safety. They have made several policies which not only provides easy access tofinancial services but also protects them from fraud things, hackers and illegal activities (Arora,Parashar and Transforming, 2013). The main purpose of government is to increase the economyof the country and help people to increase their living standard and reduce their life risks. IT governance: It mainly looks after the performance and risk associated with informationtechnology. According to Australian Standard for Corporate of Information Technology, theorganisation which operates illegal activities like cheating with customers and encourages themto invest in illegal policies and plans are considered as criminal and they have no right to cheatinnocent people (Beimborn and Palitza, 2013). Further, this act has also focused on evaluation ofnew technology and communication technology. The ICT projects have also introduced by theorganisation to increase their productivity and reduce the risks related to IT. Different policies and patterns are introduced by the government to increase theawareness of digital media and services which can help customers to reduce their efforts increditing, withdrawing and transferring their money. The online mobile apps and websites ofAztek has helped them to reduce their time and money (Borrett, Carter and Wespi, 2014). Thefraud level and risk of cheating from agents has also reduced to greater extent. This has not onlyhelped them to increase their productivity and benefits. These policies of government havehelped the organisation to make more customers and win their confidence by providing differentplans related funds, insurance etc.3

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