Information Security Risk Management for Smart Software Pty LTD

IT write up

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Executive summary
The smart software Pty LTD is an information technology organization in Melbourne
that develops and implements customized software for Australian business industries.
The information technology team assigned to control and manage the information
security risks and issues and perform their operation. The aim of this report is to
analyse the concept of information security risks and apply information security risk
principles, and information security certification and accreditation to the smart
software organization. This report will describe the information security risks faced by
smart software organization and strategies to overcome these issues and improve the
performance of their networks. In the end, an information security certification and
accreditation will be involved and discussed properly.

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Table of Contents
Introduction...........................................................................................................................................3
Discussion..............................................................................................................................................3
Principles of information security risk management.........................................................................3
Ethical issues due to mishandling of information resources..............................................................5
Steps that need to be taken to prevent security breach...................................................................5
Ways to identify information asset....................................................................................................6
Risks associated with leakage of information asset.......................................................................7
Information security-Risk control strategies......................................................................................7
Information security certification and accreditation to the smart software organization...............10
Initiation and planning.................................................................................................................10
Certification.................................................................................................................................10
Accreditation...............................................................................................................................11
Continuous monitoring................................................................................................................11
Conclusion...........................................................................................................................................11
References...........................................................................................................................................13

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Introduction
Information security management consists of set of policies and rules that are used to
secure all the confidential and sensitive information. This security system is used to
minimize the risk and assure that business continuity is maintained by making sure that
security breach does not occur. In this report, smart software Pvt lmt. Is considered it is
one of the leading software company situated in Melbourne. The risk plans are
developed so that sensitive information about the company remains integrated,
confidential and available. The company builds software in a customized way and each
team as their defined role. The security management system is important for this
organisation as there are large files and documents that need to be protected. To
resolve all the security consequences, various strategic planning needs to be developed
so that security parameters are met and information remains protected.
Discussion
Principles of information security risk management
There are numerous principles of information security risk management which are
described below:
Accept that there will always be uncertainty: risks associated with information
security are not always predictable and cannot be eradicated. Such kind of principle will
help consumers to know that they can ask for help, admit and seek advice from trusted
resources.
Make the security risk management system: managing security risks are not easy
and simple for which company should develop the risk management system to manage
all the time, process and data.
Understand the types of risks: it is very important to understand and identify the
risks and issues associated with information security. It involves the impact of risks on
security, key factors that increase the risk and issues and many more.
Appreciate full how risks and issues are being managed: once IT team has a clear
view of the risk that faced by the smart software, management team require to decide