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EPM 5630 - Risk Assessment and Analysis of VIC Australian Government

   

Added on  2020-02-24

14 Pages3488 Words113 Views
Running head: RISK ASSESSMENT AND ANALYSISRisk Assessment and AnalysisName of the Student:Student ID:Name of the University:Author’s note:

Table of ContentsIntroduction......................................................................................................................................31. Illustration of Security Risks and Threats in VIC Government..................................................42. Explanation of the Diagram and Categorization of Risk Factors................................................42.1 Description of the components of diagram............................................................................42.2 Classification of Risk Exposure Areas..................................................................................73. Comparison and Ranking of Accidental and Deliberate Threats................................................84. Security and Risk Management Challenges for VIC government...............................................95. Comparing Risk and Uncertainty..............................................................................................106. Risk Mitigation and Management.............................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................13

IntroductionThe development of the information system is very helpful for integrating thedevelopment of the operations for the organization. According to Healey (2016), it is veryhelpful for integrating the advanced processes of VIC government for forming the effective andimproved system integration of the organization. The system developed would help in formingthe supportive development of the operations and implicit development of faster and effectiveinformation processing in the organization. The systematic flow of the information and ease ofoperations is another major benefit of implementing the information system in VIC.The following report had been developed for integrating the benefit of risk assessment ininformation system. The case of VIC Australian Government had been considered for classifyingthe factors of risk and develops the effective and improved functions within the organization.The various threats of using the information system in VIC government would be classified intotheir exposure areas and analysed. The analytical comparison of internal and external risk factorswould be helpful for forming the risk prioritization. The risk assessment and mitigation strategiesare also highlighted in the report so that VIC Government can implement such strategies forgetting the benefit of secured and error-free information system.

1. Illustration of Security Risks and Threats in VIC GovernmentFigure 1: Factors of Risk and Threats in information system of VIC Government(Source: Created by the author in Ms-Visio)2. Explanation of the Diagram and Categorization of Risk Factors2.1 Description of the components of diagramThe illustration diagram for the security risk and threats in VIC for implementing theinformation system has covered the factors of risk along with the major components associatedwith the information system of VIC government. The risk classification has been done into

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