IS3110 U3L1

Topics: Risk management, Risk, Risk management plan Pages: 3 (630 words) Published: January 3, 2015
IS3110 Lab3Student Name: Tom Fletcher
Submission Requirements
Your last name must be in the filename of your submitted document according the assignment naming standard. IS3110_U3L1_Firstname_Lastname Email to: SMichnick@itt-tech.edu
Due By: 6:00 PM CDT, Wednesday July 9, 2014
Note: Emails received after Due Date Due Date will be marked LATE and subject to a grade of 0 for the assignment. Please refer to Pages 18-23 of the IS3110 Student Lab Manual when working on this lab. Lab #3 – Assessment Worksheet

Define the Scope & Structure for an IT Risk Management Plan
Overview
Answer the following Lab #3 – Assessment Worksheet questions pertaining to your IT risk management plan design and table of contents.

Lab Assessment Questions & Answers

1. What is the goal or objective of an IT risk management plan? Risk Management plans are used to define how risks will be managed, monitored and mitigated throughout a project.

2. What are the five fundamental components of an IT risk management plan? Identification, analysis, evaluation, reviewing and monitoring.

3. Define what risk planning is. Developing and documenting strategies and methods for identifying risks

4. What is the first step in performing risk management? Establish Objectives that need to be meet overall.

5. What is the exercise called when you are trying to identify an organization’s risk health? Risk Health Assessment

6. What practice helps reduce or eliminate risk?
Risk Management

7. What on-going practice helps track risk in real-time?.
Risk Mitigation

8. Given that an IT risk management plan can be large in scope, why is it a good idea to development a risk management plan team? Because the plan can be too big for one person. Plus it is good to have fresh ideas.

9. Within the seven domains of a typical IT infrastructure, which domain is the most difficult to plan, identify, assess, remediate, and monitor? The User Domain. The user tends to think...
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