Ensuring the collection and analysis of data to monitor the performance of processes that involve risk. 3. Analyzing data collected on adverse events, near misses, and potentially unsafe conditions; providing feedback to providers and staff; and using this data to facilitate systems improvements to reduce the probability of occurrence of future related events. Root-cause analysis and systems analysis can be used to identify causes and contributing factors in the occurrence of such events. 4.
Technical Paper: Risk Assessment Latoria Wilson Dr. Glenn Hines CIS 502 9/8/13 Introduction The risk assessment of Global Finance, Inc. identified vulnerabilities in the areas of Management, Operational and Technical Security. Vulnerabilities are weaknesses that may be exploited by a threat or group of threats. These vulnerabilities can be mitigated by recommended safeguards. Safeguards are security features and controls that, when added to or included in the information technology environment, mitigate the risk associated with the operation to manageable levels. A complete discussion of the vulnerabilities and recommended safeguards are found in this report.
Ensuring that the possible measures are in place is important. It is important that the threat assessment planning be imperative to reduce any chances of threat occurring. This is also beneficial to mitigating effects of the threat, resolving any implications, including building confidence of any involved parties. The primary concern with threat assessments is the concerns of security. One has also identified that organizing a maximum security plan includes one knowing: (1) What or who is being protected, (2) What assets, and (3) How important is it (Fennelly, 2011).
The Boise location will inherently have certain risks that will come with this type of business model and the related technology that supports the process. In order to properly manage the expected risks we will need to properly categorize the risks into quantitative and qualitative manageable pieces. McBride Financial had decided to use cost as the primary factor in measuring the risk thus a quantitative approach will be used. Three categories were chosen to represent the risks, they were: probability, impact and priority. The probability was measured from high to low with ratings set to high, med-high, medium, med-low, and low.
How can hazards be identified? What is risk management? A hazard is identified as anything or any condition which has the potential to cause injury, harm to health or source potentially damaging energy. A risk is considered as the potential for adverse effects to result from an activity or an event. The purpose of a risk assessment is to determine the appropriate short and long term controls and setting priorities for actions to eliminate or mitigate the risk associated with the proposed changes.
This is the first step to evaluate the strengths and limitations of the information. Next it is necessary to evaluate the exposure aspect of the risk, and the characteristics of that exposure. The final step is the characterization, which means that after the first three parts of the assessment is complete, and then the risk managers can make their conclusion on what exactly the risk factors will be, according to exposure and effect level of the risk. How do the four main topics of the framework interrelate? The main factor of the framework interrelates in a very specific way, all the information has to be carefully calculated and reviewed to determine what the endpoints will be.
To maintain as much independance as is possible. And to retain dignity and respect for the individual. Risk assessments should be regularly reviewed as an individuals health, independance and mental capacity can change. It is important to use an agreed risk assessment process as it allows you to evaluate any risks and possible consequences that may be involved in an activity or lifestyle that an individual wishes to partisipate in. It allows you to find other ways that maybe less risky and to record the alternatives.
Planning for a high control risk assessment based on general controls and manual follow-up.. This is explains itself better then describing. B. Identify two strategies that might be used to support a low control risk assessment. Discuss the difference between the two strategies.
3. Explain the reasons for carrying out risk assessments Knowledge specification 4b Risk assessments are carried out to identify hazards and the calculation of a risk and the reduction of that risk, either completely or to an acceptable level. 4. Explain the reasons for and the procedure to follow when recording and reporting accidents or incidents. Knowledge specification 4a Reasons for reporting and recording.
Establishing the possibility and type of damage or threats that relates to the sensitive nature of the customer information. 3. Means to control the risks with regards to the direction of the policy and procedures that are created specific to customer information type systems. 4. All steps in the proper disposal of customer’s information should be applied.