Applying Risk Management
Applying Risk Management CMGT/430
Applying Risk Management
Risk management is an important element in managing information systems. Applying risk management principals to business procedures is essential because it helps organizations design and maintain a safe systems environment to ensure the confidentiality, integrity, and availability of company data. Kudler Fine Foods has expressed an interest in developing an Enterprise Resource Planning (ERP) system. The primary objective is to improve business administration by integrating stores and business systems. Kudler Fine Foods has three stores in California and integrating business functions across all stores would be extremely beneficial. This paper will outline the major factors and benefits by applying risk management principles to ensure a secure and effective system.
Risk Management Principles According to Whitman and Mattord (2010), risk management is a collaborative effort involving Information security, information technology, management, and users. It is important to involve all of these areas to devise a comprehensive and effective risk management strategy. The major principles include identifying risks, quantifying risks, plan for risks, and monitor and manage risks. The first stage is risk identification. This is when the organization 's managers identifies all of its assets and classifies them into meaningful categories in addition to prioritizing them by importance. Assets include various components such as people, processes, data, and all elements of information technology. Gathering information on assets such as the people aspect processes, and data could be challenging because they are not always documented and readily available. The information gathered for people may include position titles, the title of his or her supervisor, security levels, and skills. Information
Applying Risk Management
Risk management is an important element in managing information systems. Applying risk management principals to business procedures is essential because it helps organizations design and maintain a safe systems environment to ensure the confidentiality, integrity, and availability of company data. Kudler Fine Foods has expressed an interest in developing an Enterprise Resource Planning (ERP) system. The primary objective is to improve business administration by integrating stores and business systems. Kudler Fine Foods has three stores in California and integrating business functions across all stores would be extremely beneficial. This paper will outline the major factors and benefits by applying risk management principles to ensure a secure and effective system.
Risk Management Principles According to Whitman and Mattord (2010), risk management is a collaborative effort involving Information security, information technology, management, and users. It is important to involve all of these areas to devise a comprehensive and effective risk management strategy. The major principles include identifying risks, quantifying risks, plan for risks, and monitor and manage risks. The first stage is risk identification. This is when the organization 's managers identifies all of its assets and classifies them into meaningful categories in addition to prioritizing them by importance. Assets include various components such as people, processes, data, and all elements of information technology. Gathering information on assets such as the people aspect processes, and data could be challenging because they are not always documented and readily available. The information gathered for people may include position titles, the title of his or her supervisor, security levels, and skills. Information
References: Whitman,M.E., & Mattord, H. J. (2010). Management of information security(3rded.). Boston, MA: Course Technology/Cengage Learning National Institute of Standards and Technology. (2002). Retrieved from http://csrc.nist.gov/publications/nistpubs/800-30/sp800-30.pd