This report delves into the critical domain of IT risk management, emphasizing its strategic significance for organizations, particularly exemplified by the London Fire Brigade. It explores the fundamental principles of risk management, referencing ISO3100 and its eleven guiding principles, and illustrates their application in safeguarding sensitive information. The report outlines the processes involved in establishing a robust IT risk management system, detailing a six-step approach based on PMBOK guidelines, from risk identification to the assignment of responsibility and accountability. Furthermore, it highlights key trends shaping IT risk management in the 21st century, focusing on the increasing prevalence of cyberattacks and the need for proactive security strategies. The analysis underscores the importance of continuous improvement and adaptation to emerging threats in the ever-evolving landscape of information technology.
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