How to Resolve Information Risk Management Concerns? The fundamental principle of information security and risk management is to support the mission of every enterprise. Every organization is susceptible to uncertainties, some of which influences the organization in a negative way. To aid this, IT security professionals need to be able to help their management team understand and efficiently handle these uncertainties, which is not an easy task. Limited resources, increasing network vulnerabilities and data threats make mitigating information risk management a complicated process. Hence, IT security professionals need to have a systematic tool kit that helps them to respond to unwarranted business risks and not succumb to it. This tool kit should be repeatable, consistent, and cost-efficient and significantly minimize risks. Risk is potential harm that can be or is caused due to a current event or from any unforeseen event. From the IT security perspective, information risk management can be defined as the process of understanding, addressing and responding to the factors that might lead to a failure in the integrity, confidentiality or accessibility of an information system. Keeping all these aspects in mind, service providers specializing in data protection solutions addressed business risks by introducing innovative risk management frameworks that functions in two phases. They are: · Strategy and Design In this phase, the company evaluates your risk management strategy, policy, process, compliance requirements. The further assess your risk identification, ranking, rating mechanisms and the operational processes around it like who performs risk management, who approves risk decisions and other factors. Depending on this assessment a holistic risk management framework is developed that outlines how risk management will be conducted and comprises education sessions for the ‘risk SPOC/champions’. · Implementation and sustenance Here the company helps you in implementing a risk management framework by training the risk SPOC or champions, setting up risk management templates, customizing the rating and ranking mechanism to address multiple kinds of assets. The company also offers project management and technical implementation skills for effective implementation according to the design criteria. They also help in end-to-end management of the framework by managing the periodic assessments and make apt treatment decisions. Therefore, an understanding of the risk and the deployment of an organized information risk management methodology is important for being able to effectively set up a secure IT environment. This process still happens to be a challenging area for most information professional owing to the rate of technological changes and explosive internet growth. However, with advanced risk management frameworks companies can assess and resolve information risks and identify the return on investment easily.
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Published on Mar 21, 2013
Published on Mar 21, 2013
The fundamental principle of information security and risk management is to support the mission of every enterprise.Every organization is su...