Project #55801 - Risk Assessment

Assignment Overview

Information Systems have become the foundational platforms for many organizations and businesses to carry out their missions and business functions. Hence, managing the security risk related to the use and operation of the information systems has also become a critical component of managing organizational risks. The following artilce provides an overview of managing information security risk, especially from the managerial perspective.

NIST (2011), "Managing Information Security Risk -- Organization, Mission and Information System View," National Institute of Standards and Technology Special Publication 800-39.

Effective risk management of information system security first asks for systematic risk assessment. The following article provides frameworks, foundamentals, and processes for risk assessment. Matrix are also suggested to guide detailed risk assessment of threats, their likelihood, and impacts, etc.

NIST (2011). Information Security -- Guide for Conducting Risk Assessments. National Institute of Standards and Technology Special Publication 800-30 Revision 1.

The following chapter in the Handbook of Information Security Management also covers the similar topics such as the risk assessment of threats and likelihood, qualitative and quantitative considerations of risk assessment and even some accounting methods. Even speaking in slightly different languagues, the foundamentals and methods are similar.

Ozier, W. Section 3-1—Risk Analysis. Handbook of Information Security Management.

After reading the above articles (the first two are documentations with many pages, please selectively read the important content rather than read word-by-word), please write a 3-5 page paper titled:

"How to Systematically Conduct Risk Assessments of Information System Security Risks? -- Foundamentals and Methods"

Please address the following issues in your paper:

  1. The importance of risk management for information system security
  2. The priciples and foundamentals of risk management of information system security
  3. The importance and foundamentals of risk assessment of information system security
  4. The methods of risk assessents including processes, matrix, calculations, etc.
  5. The challenges and solutions to risk assessments that are particularly interestng to you

Assignment Expectations (50 points total)

Length: Minimum 3–5 pages excluding cover page and references (since a page is about 300 words, this is approximately 900–1,500 words).

Assignment-driven criteria (25 points): Demonstrates clear understanding of the subject and addresses all key elements of the assignment.

Critical thinking (10 points): Demonstrates mastery conceptualizing the problem. Shows analysis, synthesis, and evaluation of required material.

Scholarly writing (5 points): Demonstrates writing proficiency at the academic level of the course; addresses the Learning Outcomes of the assignment.

Quality of references (4 points) and assignment organization (3 points): Uses relevant and credible sources to support assertions. Assignment is well organized and follows the structure of a well-written paper.

Citing sources (3 points): Uses in-text citations and properly formats references in APA style.

Subject Computer
Due By (Pacific Time) 02/09/2015 12:00 am
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