Purchase Solution

IT Risk Mitigation

Not what you're looking for?

Ask Custom Question

With the new opportunities that IT can create, there are risks and threats that must be addressed.

1. What are the major risks to the organization when implementing and using IT?

2.To what degree are IT security risks and business risks interrelated?

3. What disadvantages might a business encounter from a "locked-down" IT environment, and how can these be balanced against the disadvantages of a security breach?

Purchase this Solution
Solution Summary

This solution discusses IT risk mitigation. All questions are answered in detail, with supporting references.

Solution Preview

1. What are the major risks to the organization when implementing and using IT?

There are a few major types of risks that are relevant to the organization when implementing and using IT. The two main classifications of IT risk are internal risks and external risks. Management needs to ensure that the IT systems are properly protected, with the appropriate internal controls in place, to protect against internal risks. External controls also need to be in place to guard against external risks to IT. From an internal standpoint, there is an inherent risk that management controls will be overridden and abused, in an attempt to commit fraud. This is the main reason why external audits, which are conducted annually, have implemented a specific segment where the auditor examines the controls in place, over IT. There is also a risk that systems will be overridden from an external source, and data, including sensitive customer data and/or proprietary data can become compromised.

IT risks also exist with financial reporting information. While this is also an internal control issue, there has to be continual monitoring over the IT system to ensure that all transactions and data are being reported timely and accurately. IT process management also encounters a risk 24/7, that involves the viability of the IT system. Systems fail, errors ...

Purchase this Solution
Free BrainMass Quizzes
Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

View More Free Quizzes
Related BrainMass Solutions

  • Amazon.com Risk Mitigation Techniques

    Can you explain to me what a risk mitigation technique is, so I can fully research it for my paper? Risk mitigation is simply a process of removing or reducing risk.

  • risk assessment

    Rather than a one time effort, it should be an ongoing process in the organization. A "risk aware" culture in organization is a must for risk mitigation strategies to be effective.

  • Create a Management Plan for Schedule and External Risk for a Defense Contractor

    Risk mitigation means how could we reduce the probability of the risk event happening? How could we reduce the impact (to the project's success criteria) of the risk event? Thus it means containment.

  • risk mitigation and monitoring plan for ERP implementation

    , business, cultural, etc.), defining the likelihood of the risk occurring (e.g. 3 on a scale of 1 through 5 with 5 being highly likely it will occur), and providing a mitigation or contingency strategy for that risk.

  • Risk Assessment and Mitigation Techniques

    206801 Risk Assessment and Mitigation Techniques Why is Risk Assessment and Mitigation Techniques an important part of forming a PROBLEM SOLUTION for an organization.

  • Comprehensive Financial Analysis

    So we can say that the company uses all types of risk mitigation technique to hedge itself from the various types of risk it can come across.

  • Proventative Solution and Risk Management

    207960 Proventative Solution Why should a preventive solution incorporate risk mitigation? Preventative solutions means to avoid a problem before it happens or before it becomes a problem.

  • Business Risk Mitigation

    140939 Business Risk Mitigation What are the effects of risk mitigation strategies and a strategic decision-making framework on the quality of strategic decisions?

  • Risk Mitigation Plan

    It should include the following with examples of each. 1) analyzing the risks associated with your investment decision. 2) Included in the analysis of risk should be a mitigation plan for each risk discussed.

  • avoidance, transfer, and reduction

    Risk Mitigation/ Reduction: It involves incorporating methods or strategies that minimizes or mitigates the severity of risk.

View More Related Solutions