Question

Provide a Security Risk Management plan in which you analyse how to process the life cycle stages of SRM for the enterprise you have chosen. The stages you need to include in the plan are as follows:

• How to frame risk
• How to assess risk
• How to respond to risk once determined
• How to monitor risk on an ongoing basis

(ALL I NEED IS AN INTRODUCTION TO THIS OF ABOUT 300 WORDS.)

**Please avoid Plagiarism

Answer 1

Answer = In Security Risk Management we manage how the security will be managed throughout the process of making project such as -

Frame Risk - First if all we have to identify the risk ,we can identify by various methods such as Risk analyst can arrange an interview by personnel who worked in similar projects , So they can examine easily the risk that will occur in the project. There should be periodic meetings to find the risk of the project.

Assess Risk = Risk assessment is a process that completely examine and evaluate risk. The probability of occurrence and it's consequences in the future is also examined by this step. Risk is the probability and loss that occur simultaneously.

Risk Exposure = probability× Loss

Once the risk is examined and evaluated then we take some steps to avoid it are as follows

Risk Acceptance

Risk protection

Risk Reduction

Risk Transfer

Risk Reserves

Risk Research

Risk Avoidance

So firstly we accept the risk that will happen then we reduce as much as possible and protect the system from various vulnerabilities and also research for the process in order to reduce the loss. Avoidable risks simply ignored.