logo

IT Risks Management of an Organisation Assignment

   

Added on  2020-03-23

21 Pages4910 Words35 Views
Running Head: IT Risks ManagementRisks Management of anAztek OrganizationAustralian Finance Service Sector

1IT Risks Management of an OrganisationTable of ContentsExecutive Summary...............................................................................................................................2Introduction to the Risk Management....................................................................................................2Management of Risks............................................................................................................................4Security Policies of an Organisation......................................................................................................5Framework of an Organisation..............................................................................................................6Main Components of framework in IT risk management..........................................................7Risk Assessment....................................................................................................................................9Mitigation of the Risks........................................................................................................................11Data Security Policies in Organisation................................................................................................13Database security Threats...................................................................................................................14Importance of the Database Security of an Organisation........................................................15Migrating of the Data..........................................................................................................................16Conclusions.........................................................................................................................................17References...........................................................................................................................................18Table of FiguresFigure 1 Risk Management....................................................................................................................4Figure 2 Process of Risk Management................................................................................................11Figure 3 Strategies for Mitigation Risks..............................................................................................13Figure 4 Security Based Models..........................................................................................................15

2IT Risks Management of an OrganisationExecutive SummaryThe IT risk management in this company is inspired by efficient risk management whichhelps in preventing threats occurring to the organization. The effects caused by the threatscreate impacts on database of the company which leads to misguide the company goals andaffects the infrastructure of the organisation. These risks held great impact on quality of workof an organization but this risk management helps to reimburse all losses which leads tohealthy business activities of an organization. If this risk management system is implementedin systematic way than we can avoid risks and flawlessly continues the business activities.This is a necessary act to develop strategies and create ideas for risk management of anorganization. The project mainly aim for outsourcing for the main key IT functionalities andmitigating the risks being affected such as the network, managing of the desktop andaccessing and development for the networks to a third party (Alexander, 2013).Introduction to the Risk ManagementRisk Management can be expressed as an undesirable act which leads to malicious activitieswhich devoid the information is known as a risk. This leads to threaten the system and canexpected harm to the system of the organization. Risk management includes the accessibilityof identifying risks, dissolute them or eliminate them without causing any harm to the ITsystem of an organization. These harms contains all the risks such as leaking the informationrelated to activities based on operation, ownership and investments of an organization Riskmanagement done on real time basis (Armstrong & Taylor, 2014). These risks can beovercome by using extra security features and technologies being used in the Aztek companyor by using the various other network architecture which is a basic strategy to manage the

3IT Risks Management of an Organisationrisks. There are several other risks which can be overcome by other means of strategies. Thisrisk management system would cover the entire reasons of outcome that can cause risks tothe organization. Risk management is highly managed so that clients can continue all thereorganizational activities in seamless manner and to update with the latest technologies toprotect consumer data and information to avoid the threats. This covers all the business risksand security related technologies which will automatically .which will organize all businessactivities. The security policies of risk management can be applied which contains all fieldsof hardware, software, information and communications which help in creating the safe andsecure environment for storage of information of an organization. Risk management includesthe accessibility of identifying risks, dissolute them or eliminate them without causing anyharm to the IT system of an organization. The main aim of risk management is helporganisations for better completions of targets and avoid unnecessary risks to the system(Bodnar et al., 2016).Figure 1 Risk Management (Source By: Author)EffortnessExpert GroupQuality of Data & InformationStrategic Migration/MethodologiesObjectives & Recovering Time

4IT Risks Management of an OrganisationManagement of RisksWhen an undesirable act which is against the security policies of the system which ismalicious and can provide harm to Information system known as risk. These risks held in asystem leads to expected harm to system. Risk management prevents the breaches in asystem.to manage the risk there is 3 things to be done that is risk assessment, mitigation andevaluation of risk.The risk assessment means to identification and evaluation of the risk, how it impactson system and some risk reducing solutions whereas Risk mitigation means toprioritize the risk and solve the vulnerable ones first ,implementation of solutionaccording to security policies on priority basis of risk and maintaining of appropriaterisk reducing measures. Risk assessment is first in line of risk management (Bromileyet al., 2014). This is used to determine that how potential the threat is and vulnerability of riskassociated with it in an IT system. Eliminating risk firstly include to identify the typeof risk system is dealing with. The identification of risk helps in preventing andreducing the risk. Risk assessment process is updated at least in a year by respectedorganisations according to demand in newer versions (Therivel & Paridario, 2013).Risk mitigation helps in prioritizing and evaluating the risk which helps in riskreducing controls recommending the proper solution for risk management. Whether itis impossible to eliminate all risks but at least the economic approach and anappropriate measure to decrease vulnerability of risk to a desirable level it helps indecreasing impact of risks. The risk mitigation held by mission owners afteracknowledging all potential risks (Burke, 2013)Risk Evaluation is a process which leads to help the evolving network of anorganisation because as the information expands the vulnerability of risk also

5IT Risks Management of an Organisationincreases and network is a place where database is automatically expanded andupdated to protect the real time on going growing database security policies can bechanged over real-time basis to make sure that risk management is evolving.Security Policies of an OrganisationTo manage the information of an organisation which includes the guidelines, procedure ofunified tasks which is confidential in a most secure way to overcome all risks from allthreatening elements which may cause harm to organization these security policies is used tohandle the data in most secure way .This helps in preventing the security breaches whichleads to cause harm to the system of the Organisation. A security policy encompasses riskassessment, mitigation and evaluation (Calomiris et al., 2016). These policies will work onidentified risks and implements the most common and economic methods to eliminate therisks. These policies increase the secrecy of plans and procedure of organization. The mostsensible information of an organization are its transactions, worker’s database, clientdatabase and personal data of an organization now these are the main targets which is to bebreached .it is necessary for a security policy to pertain these information in right andprotected servers and it would be accessible only by some authorised personnel’s to protectdata. Security policy also says that database should be updated daily, once in a week orfortnightly to protect database from unwanted intrusions and breaches. The remote server canalso be used in case of extra protection where data backups automatically at the end of theday to get an extra cover on the database (Chapman & Ward, 2003). The main objective ofthe security is to maintain progress in IT system of organization which leads growth ofcompany and an each individual works in it as well.

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
IT Risk Management in Organisation
|18
|4937
|34

Aztek Risk Management & Assessment
|18
|5082
|30

ITC596 Report on Risk Management Assessment
|21
|5654
|86

Risk Assessment Plan for Aztek Financial Services
|19
|5174
|378

IT Risk Management - Report (Doc)
|23
|6055
|34

IT Risk Assessment for AZTEC Company- Project Report
|20
|5175
|140