Risk Management (Topic 4)

What is Risk Management?

• Process of identifying risk as represented by vulnerabilities

• Attempting to control future outcomes by acting proactively rather than

  reactively

• Continuing to identify, analyze, evaluate and treat loss exposure and monitor risk

  control and financial resources to mitigate the adverse effect of loss

• UNO ALL

Systematic approach to safeguarding and effectively handling

risk associated with utilization, storage, transfer of data and

information systems.

• Information Assurance

• Information Security

• Risk Assessment

Practices and measures aimed at safeguarding personal data

from unauthorized access, alteration, and disclosure during

storage and transmission

• Information Assurance

• Risk Treatment

• Information Security

The initial steps of risk management, which includes

identification, analysis, and evaluation

• Risk Treatment

• Risk Assessment

• Information Security

Implementation of protective measures or controls to mitigate

the risk to an organization’s information assets to a level that is

deemed acceptable

• Risk Treatment

• Risk Identification

• Risk Assessment

Measures and Strategies put in place to manage and reduce

the impact or likelihood of potential risks.

• Information Security

• Risk Control

• Risk Treatment

(Importance of Risk Management)

Empowers a business with the necessary tools to adequately identify and

deals with potential risk

• TRUE

• FALSE

(Importance of Risk Management)

It is not easy to mitigate

• TRUE

• FALSE

(Importance of Risk Management)

Ensures risk of high priority are dealt with

• TRUE

• FALSE

(Importance of Risk Management)

It does not improves its odds of becoming a successful entity

• FALSE

• TRUE