Risk Assessment Transcript
You receive an email from your boss, Maria Sosa.
The email reads: Hello, great job with the vulnerability assessment last month. This will help fulfill our DoD contract requirements.
For our next project, you will use the information from that vulnerability assessment to begin a risk assessment. This will help us understand the cybersecurity risk to our mission, function, image, and reputation. This formal assessment will be completed in the spring, but I’d like you to start thinking about the process now and prepare an executive summary of your plan by the first of the month.
You should use the information in the vulnerability assessment, including internal and external threats, vulnerability information, likelihoods and impacts, to outline the elements for inclusion in your risk assessment. This is the starting point to establish our long-term risk management strategy.
The final report should focus on two elements. The first element is defining the policies, processes, and technologies used to assess and manage risks across all levels of the organization within budget and other logistical constraints. The second element is identifying software acquisition and installation risk, network access risk, and risks associated with social media.
Please submit the initial report for review. Once we have agreed on the final document, we will communicate the findings to all appropriate stakeholders.
FYI – I will be traveling the rest of this week, but feel free to email me with any questions.
Very Respectfully, Maria
Project 2 Start Here
Organizations must stay up-to-date on their vulnerabilities and protection measures. Once vulnerabilities have been evaluated, the organization uses this information to develop a risk assessment plan. This plan should consider the perspectives of owners, shareholders, employees, policy makers, suppliers, and customers.
In this project, “Risk Assessment,” use the previous findings from Project 1, “Vulnerabilities Assessment Report,” to recommend an action plan for the risk assessment assigned in this project. The final assignment is a five- to seven-page review or summary of the risk assessment. Note that this is not a complete risk management report, but a “what if” report outlining potentials in both attacks and possible responses.
For this particular project, grades are based on the ability to clearly and accurately assess policies, processes, and technologies to identify and assess risk and articulate effective mitigation strategies to achieve the appropriate security needed for the enterprise.
This is the second of four sequential projects. There are 12 steps in this project. Begin below to review the project scenario.
When you submit your project, your work will be evaluated using the competencies listed below. You can use the list below to self-check your work before submission.
2.1: Identify and clearly explain the issue, question, or problem under critical consideration.
2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.
9.3: Assess policies, processes, and technologies that are used to create a balanced approach to identifying and assessing risks and to manage mitigation strategies that achieve the security needed.
Step 1: Review the Risk Management Framework
As the first step in preparing the risk assessment, review the risk management implementation framework and the risk management technologies that you might use in your assessment.
In the subsequent sections of this project, you will write a risk assessment summary report that can be used in addressing cybersecurity threats through risk management.
When this first step is complete, move to the next step, where you will create a list of vulnerable assets.
Step 2: Document Vulnerable Assets
In the opening step, you considered the risk management implementation framework and the risk management technologies you might use. Now, it’s time to list the organization’s vulnerable assets.
In order to conduct effective information risk management, the vulnerabilities of the system must be understood and documented prior to starting the assessment, regardless of which of the risk risk assessment approaches is used.
Begin by conducting a thorough review of the recently completed Vulnerability Assessment report. During the review, pay particular attention to which security risks to information systems that might be relevant and consider varying types of risk assessment and analysis.
Using the Vulnerable Assets Template, identify and create a list of assets considered vulnerable. This is a simple list, not prioritized, not valued, simply identified, but complete. Pay particular attention to application software in both the acquisition and implementation phases. This list of vulnerable assets will also be used during the next step.
Submit the completed list of vulnerable assets for feedback. In the next step, you will take the vulnerable assets and use them to identify specific internal and external threats.
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