Risk Management Discussion
IS3110
Unit 3 Discussion 1: Risk Management Process
During our discussion we all agreed that the first step taken in the risk management process is the most important. Risk identification allows an organization to identify risks and vulnerabilities so that the operations staff becomes aware of potential problems. Not identifying risks can have drastic, costly, and even deadly consequences Not only should risk identification be undertaken as early as possible, but it also should be repeated frequently. .The group also thought of using risk identification as a tool that assists management in effectively identifying and managing resources while mitigating significant inherent risks. Some of the discussion lead to an evaluation of the organizations worth and projected risk if an incident were to take place. Discussions also lead that when initiating the risk management process that we may also find positive risk that may impact an objective. Although there is no way you can identify all the risks impacting a project, brainstorming techniques may help you to identify the most important. Overall we all agreed diligently that risk identification is essential to an organization health and success.
Although I felt that Risk Analysis and prioritization was important, I also felt that Risk Control was of equal importance. Risk control involves the process of monitoring and controlling and keeping track of the identified and the unidentified risks. Risk control also includes initiating change control requests when changes in risk status or risk plans could affect the availability of the service. In risk control process IT hope to identify risks that are no longer possible and risks that are coming due, as well as any new risks that may become evident. IT will also monitor risk activity to make sure the risk plans have been carried out successfully. Problems that have been found out in the risk plan can help IT to adjust the plans for future risk activities. Risk control
Unit 3 Discussion 1: Risk Management Process
During our discussion we all agreed that the first step taken in the risk management process is the most important. Risk identification allows an organization to identify risks and vulnerabilities so that the operations staff becomes aware of potential problems. Not identifying risks can have drastic, costly, and even deadly consequences Not only should risk identification be undertaken as early as possible, but it also should be repeated frequently. .The group also thought of using risk identification as a tool that assists management in effectively identifying and managing resources while mitigating significant inherent risks. Some of the discussion lead to an evaluation of the organizations worth and projected risk if an incident were to take place. Discussions also lead that when initiating the risk management process that we may also find positive risk that may impact an objective. Although there is no way you can identify all the risks impacting a project, brainstorming techniques may help you to identify the most important. Overall we all agreed diligently that risk identification is essential to an organization health and success.
Although I felt that Risk Analysis and prioritization was important, I also felt that Risk Control was of equal importance. Risk control involves the process of monitoring and controlling and keeping track of the identified and the unidentified risks. Risk control also includes initiating change control requests when changes in risk status or risk plans could affect the availability of the service. In risk control process IT hope to identify risks that are no longer possible and risks that are coming due, as well as any new risks that may become evident. IT will also monitor risk activity to make sure the risk plans have been carried out successfully. Problems that have been found out in the risk plan can help IT to adjust the plans for future risk activities. Risk control