Question

Summarize the ISO 31000 risk management methodology and its application in IT Security

Answer 1

The International Standards Organization (ISO) has developed a voluntary standard to assist organizations in risk management and risk management. Risk management is the structure of developing and managing risk based on how we implement it. The structure includes clear principles, a sound framework that can build a foundation, and effective management of risks. Creating a detailed framework for any organization should have four major commissions, such as design, implementation, monitoring and review, and continuous improvement. As security risk management professionals, it is important to understand the four aspects of the framework, but in this discussion, we will delay implementation and consider the risk management process

As it develops, the risk management process must be rooted in the continuous practice of monitoring, review, and communication across the trading platform. This is to see how business changes and fluctuations affect risk management in particular. It is just as important to consider different ideas about risk and support for its treatment throughout the organization.

Reference creation

This is an important point that most security risk management practitioners fail to understand. We must fully appreciate or maintain internal organizational makeup and business objectives if we create an effective plan. It is also important to understand the external environment in which the company operates. The fully informed picture of all upstream and downstream stakeholders provides a great contextual foundation for creating a strong treatment plan and defining risk criteria that reflect the values ​​and objectives of organizations.

Identify the risks

The task of this step is to highlight all the sources of risk (threats) and their potential for the organization and its purpose. At this stage, it is important to verify the information used to establish the credibility of the threat and the risks it may cause. Once we have a detailed list of risks and their risks, we can begin to understand their impact and the likelihood of an event.

Risk assessment

We must take into account the risks identified and their fallout. It is again important to implement a systematic and objective analysis of risk at this level that takes into account expert advice and deviation. If we fail to implement an accurate analysis, we understand the impact of risk and the likelihood that this will happen.

Assess the risks

The process involves embedding the results of risk analysis, where we assess risks and mapping them against the context. The importance of tolerance for hunger and risk for organizations is of utmost importance in the forum and ensures that priorities for risk treatment are established if needed.

Treat the risks

The purpose of treatment is to eliminate or reduce the risk to a practical level rather than the tolerance of the organization. Where this is not achieved, it must be ensured to remember or accept that it has a balance of costs and efforts. It is important to remember that risk remediation can introduce new risks as part of any mitigation plan and also requires evaluation and evaluation.

Security risk management and risk management can have serious consequences if not managed properly. This means understanding the values ​​and objectives of organizations and using robust frameworks to assess, analyze, and assess risk. Unfortunately, there are a lot of security risk management techniques that can interfere with achieving a business goal by being sick throughout management plans. It is no longer acceptable for business innovators to interpret security innovation; It must be the driving force that allows the gin to become irreplaceable.

One way to think about security risk management is that if it is not easy to do business, it should be considered a threat too!