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ITC596 - The IT Risk Management

Added on - 04 Mar 2020

The below document discusses IT Risk Management. The questions which have been discussed in this assignment are " Identification and explanation of the risk related to IS/IT " and " Examining the key risk factors of the Risk Model and relating them to the IS/IT environment".

IT Risk Management Part A

IT Risk Management Part C

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Running head:IT RISK MANAGEMENTIT risk managementName of the student:Name of the university:Author Note
1IT RISK MANAGEMENTTask 3:1. Exercise 1:1.1. Identification and explanation of the risk related to IS/IT:The first risk is the pure risk. It has been leading into loss only. The second one is thespeculative risk. Here both gain and loss is possible. The next one is the dynamic risk. Here it turnsthe scenario or the technology having the influence of both probability of loss and gain. Then therehas been the static risk. There has been no alteration in the technology or the environment here. Thisindicates that there has been only loss here. There has been the subjective risk present. This isassociated with the psychological uncertainty (Citebm.business.illinois.edu, 2017). Moreover there isthe objective risk. It has been measurable and observable. There has been the particular risk that hasbeen exposed to the loss from particular individual events. Then there might be the fundamental risktaking place. This has been the exposure towards the loss to involve huge team of people from thegeneric phenomena like the inflation, earthquake and so on. There has been a financial risk also thatis the probable loss inherent within the financial methods. Lastly there is the possibility of the non-financial risks. This is the probable loss on the basis of the factors other than the methods offinancial lending.
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In brief, the organizational risk has been associated with the organizational operations including the image, mission functions, and reputation. This also includes the individuals, organizational assets, other organizations, and even the country as a whole.