Risk Factors in Information Technology Report

Added on -2020-02-19

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Running head: IT RISK MANAGEMENTIT RISK MANAGEMENTName of the StudentName of the UniversityAuthor note
1IT RISK MANAGEMENTExecutive summaryThe main objective of this report is to discuss about the risk factors in an organisation dealingwith information technology. Due to the advancement of internet and technology several onlineservices and online features have been generated and the amount of information is also increasedin a huge amount. Several organisations deal with this information with several computingsystem and servers. Many risks are associated with it and can make the system vulnerable for theusers. VIC government has created lots of rules and regulations which are important for theorganisational safety from the possible risk factors. It is concluded that risk management is animportant field for the security of the organisation dealing with public information.
2IT RISK MANAGEMENTTable of ContentsIntroduction......................................................................................................................................31. Diagram of risks and risk management of VIC government.......................................................42. Explanation of the diagram and identification of different levels of risk exposure....................53. Comparison between Deliberate and Accidental Threats and ranking of threats according tothe importance.................................................................................................................................74. Explanation of the challenges of VIC government regarding the internal and external riskmanagement.....................................................................................................................................85. Difference between Risk and Uncertainty...................................................................................96. Discussion and evaluation of several methods available to the VIC government for riskmanagement...................................................................................................................................10Conclusion.....................................................................................................................................11References......................................................................................................................................13
3IT RISK MANAGEMENTIntroductionIn modern era of internet and information technology the importance of information isincreasing day by day and the amount of risks are also increasing simultaneously. It is veryimportant to keep the safety of the information related to the information and the organisationalstructure. Risks can be classified in many ways according to its nature type of occurrence. Todeal with various kinds of risks different methods are taken to secure the organisational set up.There are also many differences between the risk and the uncertainties as both can damage theorganisational safety to a large extent (Becken & Hughey, 2013). VIC government has created alot of safety regulations which are useful to make the organisation free from risk factors. Themain reasons behind making the standards are to create a strong barrier to the organisational risk.Risks can be economical, cyber and natural and all these types of risks require different types ofsafety precautions (DeAngelo & Stulz, 2015). All the challenges faced by the VIC governmentare also discussed in the report. In this report all the risk factors which bring a bad impact to the organisational safety, arediscussed with proper diagram and also the risk management techniques are discussed. To makesure about the security of the public data it is important to make the system more advanced interms of risk analysis and risk management. Risk management is a new field which is also veryimportant from the point of view of mitigating the threats and risks and also to overcome the riskfactors. Public data is important from the safety point of view and so risk management is alsoimportant to make sure the security of the information of the system.

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