Information System Risk Management
The information system risk is the business risk associated with the use, ownership, operation, involvement, influence and adoption of information/technology solutions within an organization.
Information is a key business resource which, in order to be of value, must be correct, relevant and applicable to the business process and delivered in a timely, consistent and usable manner.
Information System Risk Management ensures that threats to resources within the business are identified and controlled so that the requirements for information are met.
Project management risks
Despite the fact that sound system design and installation methodologies have been well known for decades, the IT profession is still plagued by troubled or failed projects.
Some of the reasons IT projects fail are:
• An inadequate understanding of what functions and features (i.e. requirements) the organization needs in the new system.
• Poor project planning, task identification, and task estimation.
• Lack of proper skills on the project team. Some IT professionals think they can do anything and this is almost always not true.
• Failure to address problems and/or no project champion. Just about every IT project has problems so it is helpful in addressing problems if a highly-placed executive is a “champion” of the project and can step in and get problems solved if the project team is struggling.
The biggest challenge companies’ face in tackling Information System security risks is the growing sophistication of hackers and other cyber-criminals. Organizations must now contend with a range of hi-tech attacks orchestrated by well-organized, financially-motivated criminals.
While large organizations often have independent IS security staffs, it is likely that your start-up can focus on just a couple of basic items, such as:
• Identifying the value of information stored on your computer(s) and making sure that access to such information is restricted to employees who need to use for legitimate business purposes.
• Computers sometimes break down (“crash”). This is why it is important to have a procedure of backing up critical files on a daily basis, and have written, tested procedures to recover needed information from backup files quickly.
Companies considering a web site or Internet-based services need to be aware of the various risks and regulations that may apply to these services. Over the past few decades, the Internet has become critical to businesses, both as a tool for communicating with other businesses and employees as well as a means for reaching customers.
Each day of the week and every month, there are new Internet threats. These threats range from attacks on networks to the simple passing of offensive materials sent or received via the Internet. The risks and particular regulations that apply may vary depending on the types of services offered.
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