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Information Technology Risk Management

Question:

Discuss about the Information Technology Risk Management. 

Answer:

Introduction:

Inside the Security Mind: Making the Tough Decisions

This paper clearly depicts the idea and importance of implementing adequate and efficient security mechanisms in information technology for protecting the digital data and information within an organization. It concerns with the best and effective IT security practices and rules that the managers should follow in order to prevent information theft, network intrusion and any other kinds of threats that can potentially cause significant harm to the organization’s business and reputation (Day, 2003). The primary purpose of this book is to represent a transparent idea and provide a good amount of easy knowledge to be able to make good security decisions in times of complex situations regarding securing an organization’s IT infrastructure and network.

For this purpose, the paper thoroughly analyzes the essential principles of information security in the digital world. Throughout the paper, the author has focused on the importance of security in the IT world and assessed the most efficient and popular approaches adopted by organizations using different types of technologies and practices (Day, 2003). In addition to that, the author has performed a detailed exploration on the technical components and methods used to keep an organization, its information and its services secure and thereby presented it in a clear and comprehensive manner in this book.  

The Internet is Too Secure Already

In this paper, the author has argued that in spite of implementing different types of communication security techniques, methods and algorithms such as RSA, AES, SSL, MIME, SSH and so on, communicating over a public network such as internet is still believed to involve potential security threats. The primary reason behind it is the fact that the threat model implemented only addresses the known and common threats. In this particular context, the author has suggested significant ways to strengthen the security aspects in terms of sharing information over the internet by means of applying appropriate threat models and better customer models (Rescorla, 2003). The paper involves a concise discussion on the basic internet threat model, which says that the attacker most usually obtains full control over the network and therefore, can easily modify, delete, duplicate and tamper with the data. There are various kinds of attacks seen in the world of internet that includes potential danger to the entities involved in the network communication. Such attackers include remote penetration, malware, Trojan horses, viruses and worm attacks, buffer overflows, denial of service attacks to name a few (Rescorla, 2003). Finally, the author has pointed out the pros and cons of different IT security technologies such as SSL, SSH, IPsec and thereby, presented some useful suggestions so as to improve the security level and strengthen the backbone of secure internet communication by addressing the real issues inside that can prevent or at least reduce the chances of a security breach over the public network.

Risk Management Terms

The paper includes a survey involving risk professionals from different industries and organizations in an attempt to gain a detailed understanding of the risk terms and thereby improve communication across the organizations using efficient terminologies, methodologies and measures for risk management. The paper additionally supplements the outcomes from the survey and carries out an analysis of the organizational level information of potential threats and risks as identified in 10 K financial statements. In addition to that, the paper presents these results in such a way so as to confirm the existence of prominent differences in the terminology. Apart from that, the survey also identifies a significant difference between the various terminologies utilized by the traditional and professional risk mangers across the multiple organizations and industries. To be more precise, the authors Kamiya et al., (2007) have thoroughly observed and analyzed the increasingly changing nature of risk management and thereby conducted the terminology survey to find out the types of risks and their corresponding standard definitions and patterns as used by the risk managers and risk professionals across industries. Therefore, the research reported the differences across different industries over the terminologies associated with enterprise risk management for the ultimate purpose of improving the efficiency in communication across and within organizations.  

References

Day, K. (2003). Inside the security mind: making the tough decisions. (329 pages). Upper Saddle River, N. J: Pearson Education.

Kamiya, S., Shi, P., Schmit, J., & Rosenberg, M. (2007). Risk management terms. The Actuary Magazine.

Rescorla, E. (2003). The Internet is Too Secure Already. In 12th USENIX Security Symp., Washington, DC.

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