Risk Management

Risk management involves the procedure of answering the following questions.

1. Are the assets available worth protection?
2. What are the identified threats to the assets?

• What can you do to minimize the threats from occurring?

1. What damages occurs when the risks commence?

Are the assets available worth protection?

When the worth of assets considered, the aspect of company hardware inventory suggested. In a corporate security strategy, the security policy serves two crucial functions. First, it educates the companies’ executives with issues regarding the cyber security. It also guides and it dictates the appropriate response of various security accounts. To succeed in these goals, the policies of the company are limited to a manageable size. The list of all the components an organization owns is analyzed to discover the software weaknesses of a company. For example, the security strategies should include the assets of the user’s passwords and the backup media.

What are the identified threats to the assets?

The list of the events that threaten an organization assets comprise of the organizational security. This comprises of the list of passwords an asset is viable of providing. If an organization needs to get technical, the real assets are the constituted the organizations. Since the authentication, credentials are the main way of the data storage; they are the asset that requires protection. The protection of passwords aims at preventing hackers from implicating the password cracking utilities as Passwords disclosure among the members of an organization without any malevolent intent. The resulting damage can be serious if the security breach was malicious. When making a list of the identified threats against the company’s assets, it is advisable that executives try to think about the malevolent and unfussy dangers.

What can you do to minimize the threats from occurring?

A risk management strategy focuses on the alteration and responses of the arising issues. Various incidents are hard to prevent and this leads to the establishment of security policies. The goals seem logical in the prevention of security incidents, making the policies restrictive. Extreme policies tend to backfire when created in a restraining approach, to guarantee that the employees do their jobs properly. The creation of complex passwords is a way of having excessive security backfires. It is advisable that users who write down the passwords to undermine security through implementation. For example, Physical security includes strategies that indicate that when multiple people need to enter a room, expected to do it individually while swiping their badges. Companies with large IT departments, administrative staff alternate around the server room severally in a day this puts an organization in a risk, as the movements are hard to be controlled.

What damages occurs when the risks commence?

The main answer of this question varies depending to diverse companies based on the practical levels of security, for example, a scenario where an executive discloses a password to another employee leading to the alteration of certain security appliances. The restoration of a backup is vital as it aids in the intensiveness of resources. Data may also be lost when supplemented to the organization in line with the creation of the support. In the advanced security environments, the operational costs exceed the risk of reversion of previous files. Some organizations develop strategies and procedures that govern all the properties worth protection.

Conclusion

The security policies of the risk management process have a real merit although not perfect. The insurance companies derive billion of dollars annually in similar innovations. The application processes of the organizations increase the chances of recovering the fatal security incidents.