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ITC 595 - Information Security- Risk Management

   

Added on  2020-03-07

9 Pages2004 Words47 Views
Running head: RISK MANAGEMENTRisk ManagementName of the StudentName of the UniversityAuthor Note

1RISK MANAGEMENT1. IntroductionInformation security refers to the protection of data or information in order to prevent anykinds of unauthorized access of that information. The electronic data are more prone to securitythreats and thus proper measures are to be implemented in order to protect that data. Riskmanagement is the process of forecasting and evaluation of risk associated with a project or anorganization (Peltier 2013). Risk management aims at preventing or minimizing the impact ofrisk in an organization. The effective information security and risk management strategy formedium and small enterprises in Australia, for example Atlassian Australia are elaborated inthe following paragraphs. 2. Critical Analysis 2.1. Effective Information security and Risk Management Strategy in AtlassianInformation security is a critical issue in organizational management specially forenterprises like Atlassian that works with software development. Information securitymanagement is the process of handling the information security risk and security threats presentin an organization. Effective information security management is necessary for an effectivemanagement of the risks that any organization can face due to the information security risk. The major Information security an organization may face is the loss of confidential dataleading to the huge financial loss of the company. Therefore, effective information security isneeded in an organization to prevent this type of security risk. Risk management is a primary key of an organization to protect its information assets(McNeil, Frey and Embrechts 2015). However, it is essential for organization to identity the risk

2RISK MANAGEMENTin the first place. If an organization fails to identify a risk it will never be able to implement anyproper risk management strategy to deal with the problem. The risk Management process of Atlassian Australia is elaborated in the followingflowchart-

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