Business Continuity Planning: Risk Assessment of XYZ Training Company

This report is a risk assessment for XYZ Training Company, addressing security and operational risks. The company, experiencing rapid growth and a contract with DND, faces challenges from hackers and potential man-made disasters. The report details findings, including susceptibility to cyber-attacks and internal operational flaws. It concludes with the need for strong security measures, employee support, and online resources. Recommendations include implementing robust IT solutions like IBM QRadar Advisor, Wireshark, and physical security measures. The report emphasizes the importance of protecting information systems and ensuring business continuity. References include studies on cyber security management, risk analysis, and enterprise risk management.

Risk Assessment 1
Risk Assessment
Name
Course
Tutor
Date

Risk Assessment 2
XYZ Training Company Risk Assessment Report
Prepared by your name
Presented to Director of Consulting Services for D’n’D Consulting
On 16thApril 2020
Executive Summary
This brief report has been prepared by XYZ management. It precisely communicates the
current position of the business, in terms of the prevalent risks it is facing and the deliberate plan
on how resolve the situation. Security and operational risk have been enlightened as the
challenges in the organization. It is organized into findings, conclusion and recommendation.
Specific risks of the company, their potential threat and suitable solution is provided in that
order.
Introduction
The company has recently experienced tremendous revenue growth and expansion in its
operations. This made the Department of National Defense to recognize it. DND has awarded it a
contract to create fresh HR standards and policies in the military which are more coherent to the
current Canadian standards. As advised by the guidelines of the contract the company carried a
business Audit. Herein is the presentation of its risk assessment (Schjoedt, Monsen, Pearson,
Barnett, & Chrisman, 2016).

Risk Assessment 3
Findings of the specific risks
The recent risk analysis reveals that XYZ Training Company is a target for hackers and
some anti-governmental small interest groups (King-Wilson, 2017). In particular, People Against
Imperialist Nations (PAIN) has been linked to the recent attack of the business. The company is
precisely susceptible to man-made disasters like strikes, fire, attacks and external fraud. This can
result to loss of information, financial loss and destruction of properties.
XYZ Company has not faced smooth business activities all through. It has experienced a
couple of challenges generating within the organization. This is a clear indication that the
company is susceptible to operational risks. Flaws resulting from the decision process and
activities of the business. If the company fails to cautiously monitor its operations then it risks
experiencing natural disasters like terrorism and cyber-crimes are serious (Nocco & Stulz ,
2018).
Conclusion
It is vital to maintain and implement security measures. Any form of negligence may
course enormous loss and damage to the business. It is necessary to protect both employees and
clients from any form of attack.
Harmonizing employee’s beliefs and organization culture is very necessary for prolonged
and smooth operation of the business. The company will create team building programs for
interaction of the employees. So that they could bond and support each other in the work
environment. This will help the company achieve its goals within they specified timelines. More
resources should be availed online focusing on the organization culture.

Risk Assessment 4
Recommendations
Information and financial loss resulting from the broader security threat, are most
probable danger to the company. Loss of information may paralyze the operations of the
company. Information system is key and vital to the operation of the business. It is a potential
point of failure accessible to competitors and other unintended users. To judiciously handle cyber
security, the company has formulated prodigious measures through our IT team to preclude any
incidence which is adversarial in nature. Some of the proposed solutions includes: generating
strong passwords through coding to safeguard our data and the technological system at large.
The company is planning to acquire IBMQRadarAdvisor and Watson which is very effective at
detecting and elimination of any threat due to cyber-attacks. It has also made reliable plans to
acquire the Wireshark which is a network analyzer protocol (Chen, Chong, & Zhang, 2017). It
helps to monitor all the activities going on network. This will help our It team to keep our
networks safe.
For physical attacks that we lately experienced from the PAIN group, the company is
going to seek services of the professional security providers to guard its premises. This will help
to solve the minor issues of breakings and strikes.

Risk Assessment 5
Reference
Chen, Y. S., Chong, P. P., & Zhang, B. (2017). Cyber security management and e-government.
Electronic Government, an International Journal, 15(3), 316-327.
King-Wilson, P. (2017). Cyber risk analysis and valuation: a new combinatorial models and
systems approach. International Journal of Business Continuity and Risk Management,,
7(2), 151-178.
Nocco, B. W., & Stulz , R. M. (2018). Enterprise risk management: Theory and practice. Journal
of applied corporate finance,, 38(4), 8-20.
Schjoedt, L., Monsen, E., Pearson, A., Barnett, T., & Chrisman, J. J. (2016). New venture and
family business teams: Understanding team formation, composition, behaviors, and
performance. Entrepreneurship Theory and Practice,, 49(2), 132-187.