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IT Risk Management
IT risk management is the application of risk management methods to information technology in order to manage IT risk, i.e.: :''The business risk associated with the use, ownership, operation, involvement, influence and adoption of IT within an enterprise or organization'' IT risk management can be considered a component of a wider enterprise risk management system. The establishment, maintenance and continuous update of an information security management system (ISMS) provide a strong indication that a company is using a systematic approach for the identification, assessment and management of information security risks. Different methodologies have been proposed to manage IT risks, each of them divided into processes and steps. According to the Risk IT framework, this encompasses not only the negative impact of operations and service delivery which can bring destruction or reduction of the value of the organization, but also the benefit enabling risk associated to missing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management Elements
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definitions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certified Information Systems Auditor
ISACA is an international professional association focused on IT (information technology) governance. On its IRS filings, it is known as the Information Systems Audit and Control Association, although ISACA now goes by its acronym only. ISACA currently offers 8 certification program as well as other micro-certificates. History ISACA originated in United States in 1967, when a group of individuals working on auditing controls in computer systems started to become increasingly critical of the operations of their organizations. They identified a need for a centralized source of information and guidance in the field. In 1969, Stuart Tyrnauer, an employee of the (later)[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Assessment
Broadly speaking, a risk assessment is the combined effort of: # identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis); and # making judgments "on the tolerability of the risk on the basis of a risk analysis" while considering influencing factors (i.e. risk evaluation). Put in simpler terms, a risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. Need Individual risk assessment Risk assessment are done in individual cases, including patient and physician interactions. Individual judgements or assessments of risk may be affected by psychological, ideological, religious or otherwise subjective factors, which impa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NIST
The National Institute of Standards and Technology (NIST) is an agency of the United States Department of Commerce whose mission is to promote American innovation and industrial competitiveness. NIST's activities are organized into physical science laboratory programs that include nanoscale science and technology, engineering, information technology, neutron research, material measurement, and physical measurement. From 1901 to 1988, the agency was named the National Bureau of Standards. History Background The Articles of Confederation, ratified by the colonies in 1781, provided: The United States in Congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective states—fixing the standards of weights and measures throughout the United States. Article 1, section 8, of the Constitution of the United States, ratified in 1789, granted these powers to the new Congre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Communication
Risk communication is a complex cross-disciplinary academic field that is part of risk management and related to fields like crisis communication. The goal is to make sure that targeted audiences understand how risks effect to them or their communities by appealing to their values. Risk communication is particularly important in disaster preparedness, public health, and preparation for major global catastrophic risk. For example, the Effects of climate change, impacts of climate change and climate risk effect every part of society, so communicating that risk is an important climate communication practice, in order for societies to plan for climate change adaptation, climate adaptation. Similarly, in pandemic prevention, Risk perception, understanding of risk helps communities stop the spread of disease and improve responses. Risk communication deals with possible risks and aims to raise awareness of those risks to encourage or persuade changes in behavior to relieve threats in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Methodology
In its most common sense, methodology is the study of research methods. However, the term can also refer to the methods themselves or to the philosophical discussion of associated background assumptions. A method is a structured procedure for bringing about a certain goal. In the context of research, this goal is usually to discover new knowledge or to verify pre-existing knowledge claims. This normally involves various steps, like choosing a sample, collecting data from this sample, and interpreting this data. The study of methods involves a detailed description and analysis of these processes. It includes evaluative aspects by comparing different methods to assess their advantages and disadvantages relative to different research goals and situations. This way, a methodology can help make the research process efficient and reliable by guiding researchers on which method to employ at each step. These descriptions and evaluations of methods often depend on philosophical background ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Risk Management Process
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of pronoun ''thee'') when followed by a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Appetite
Risk appetite is the level of risk that an organization is prepared to accept in pursuit of its objectives, before action is deemed necessary to reduce the risk. It represents a balance between the potential benefits of innovation and the threats, that change inevitably brings. The ISO 31000 risk management standard refers to risk appetite as the "Amount and type of risk that an organization is prepared to pursue, retain or take". This concept helps guide an organization's approach to risk and risk management. Levels The Board of Directors are normally responsible for setting an organisation's risk appetite. In the UK the Financial Reporting Council says: "the Board determines the nature, and extent, of the significant risks the company is willing to embrace." The appropriate level will depend on the nature of the work undertaken and the objectives pursued. For example, where public safety is critical (e.g. operating a nuclear power station) appetite will tend to be low, while for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISACA
ISACA is an international professional association focused on IT (information technology) governance. On its IRS filings, it is known as the Information Systems Audit and Control Association, although ISACA now goes by its acronym only. ISACA currently offers 8 certification program as well as other micro-certificates. History ISACA originated in United States in 1967, when a group of individuals working on auditing controls in computer systems started to become increasingly critical of the operations of their organizations. They identified a need for a centralized source of information and guidance in the field. In 1969, Stuart Tyrnauer, an employee of the (later)[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Committee Of Sponsoring Organizations Of The Treadway Commission
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is an organization that develops guidelines for businesses to evaluate internal controls, risk management, and fraud deterrence. In 1992 (and subsequently re-released in 2013), COSO published the ''Internal Control - Integrated Framework,'' commonly used by businesses in the United States to design, implement, and conduct systems of internal control over financial reporting and assessing their effectiveness. History In 1985, COSO began as a private sector initiative to investigate the causal factors that lead to fraudulent financial reporting as a result of a number of accounting scandals in the 1970s and mid-1980s. This initiative was termed the National Commission on Fraudulent Financial Reporting; the first president of the Commission was James C. Treadway, Jr., a former Commissioner of the US Securities and Exchange Commission, and therefore the initiative was commonly called the "Treadway Commission". ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Risk Management
Enterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives (threats and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process. By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall. ERM can also be described as a risk-based approach to managing an enterprise, integrating concepts of internal control, the Sarbanes–Oxley Act, data protection and strategic planning. ERM is evolving to address the needs of various stakeholders, who want to understand the broad spec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Analysis (engineering)
Risk analysis is the science of risks and their probability and evaluation. Probabilistic risk assessment is one analysis strategy usually employed in science and engineering. In a probabilistic risk assessment risks are identified and then assessed in terms of likelihood of occurrence of a consequence and the magnitude of a potential consequence. Risk analysis and the risk workshop Risk analysis should be performed as part of the risk management process for each project. The data of which would be based on risk discussion workshops to identify potential issues and risks ahead of time before these were to pose cost and/ or schedule negative impacts (see the article on cost contingency for a discussion of the estimation of cost impacts). The risk workshops should be attended by a large group, ideally between six and ten individuals from the various departmental functions (e.g. project manager, construction manager, site superintendent, and representatives from operations, pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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