Learning Objectives And Outcomes Describe How To Create A Ri

Learning Objectives And Outcomesdescribe How To Create A Risk Assessme

Learning Objectives and Outcomes describe how to create a risk assessment team. Assignment Requirements: Imagine that you are a new manager responsible for the IT team in a start-up company that provides hosting services for online storefronts. Shortly before you were hired, the IT systems were compromised, resulting in the services going offline for almost 24 hours before services were restored. As a result, the business suffered financial losses that it could ill afford as a start-up company. The CEO of the company has directed you to put together a plan to mitigate future risks.

The first step is to assemble a team of subject matter experts to help you create the plan. The CEO wants to review a list of the recommended team members before you proceed with the plan. You need to create a list of recommended team members in a form for submission to the CEO. In creating the recommendation, evaluate each role selected, documenting the value that the team member will bring to the process. Also, document any potential issues where team members might have conflicting priorities and you would resolve any conflicts.

Required Resources: None

Submission Requirements: Format: Microsoft Word; Font: Arial 10-point size; Double-space; Citation Style: Follow your school’s preferred style guide; Length: No more than 500 words

Paper For Above instruction

In the aftermath of a significant IT security breach that led to extended service downtime and financial losses, it becomes imperative for a start-up company providing online hosting services to establish a comprehensive risk assessment team. Such a team is instrumental in identifying vulnerabilities, formulating mitigation strategies, and ensuring organizational resilience. As the newly appointed IT manager, strategic selection of team members who possess the requisite expertise and collaborative ability is essential for effective risk management.

To begin, the Chief Technology Officer (CTO) should lead the risk assessment team. The CTO's deep technical knowledge of the company's infrastructure and security protocols is vital in guiding the team through technical vulnerabilities, evaluating existing security measures, and proposing enhancements. Their expertise ensures that technical assessments are accurate and aligned with industry standards. Prioritizing the CTO's role provides a strategic perspective crucial to safeguarding the company's core operations.

Cybersecurity specialists are also critical members of the team. Their specialized knowledge in threat detection, malware analysis, and incident response equips the team with the capabilities to identify immediate vulnerabilities and develop targeted mitigation strategies. Including cybersecurity experts promotes proactive defense mechanisms, such as intrusion detection systems and vulnerability patching, that are vital to preventing future breaches.

Risk management professionals or compliance officers should be included to ensure that the team's strategies align with legal and regulatory requirements. Their insights help the company adhere to industry standards such as GDPR, HIPAA, or PCI DSS, which are essential for protecting customer data and maintaining trust. They also facilitate documentation and reporting needed for audits and regulatory compliance, adding an essential layer of accountability.

Operational managers or IT support staff must be part of the team to contribute practical insights into daily operations and the impact of potential risks. Their input helps balance technical security measures with business continuity needs. These members can also facilitate communication across departments, fostering a culture of awareness and shared responsibility.

In addition, a financial officer or risk analyst can evaluate the economic implications of various risk mitigation strategies. Their assessment ensures that the proposed measures are cost-effective and align with the company's budget constraints, especially crucial for a start-up with limited resources.

Potential conflicts may arise, for example, between technical teams prioritizing security enhancements and business units focused on rapid deployment and cost savings. To mediate such conflicts, the project leader—typically the CTO—must facilitate transparent communication, emphasizing the importance of risk mitigation as a strategic investment. Establishing clear objectives and decision-making protocols helps reconcile differing priorities, ensuring the team collaborates effectively toward shared goals.

In conclusion, assembling a multidisciplinary risk assessment team comprising technical experts, compliance officers, operational staff, and financial analysts provides a comprehensive approach to managing cybersecurity risks. Effective conflict resolution and clear communication are paramount to harnessing the diverse expertise within the team, ultimately strengthening the company's resilience against future threats.

References

• Gordon, L. A., Loeb, M. P., & Zhou, L. (2011). The Impact of Information Security Breaches: Has there been a Significant Increase? Journal of Computer Security, 19(1), 33-56.
• ISO/IEC 27001:2013. (2013). Information technology — Security techniques — Information security management systems — Requirements.
• National Institute of Standards and Technology (NIST). (2018). Framework for Improving Critical Infrastructure Cybersecurity, Version 1.1.
• Whitman, M. E., & Mattord, H. J. (2017). Principles of Information Security (6th ed.). Cengage Learning.
• ISO. (2015). ISO/IEC 27005:2011 - Information Security Risk Management. International Organization for Standardization.
• O’Gara, M., & Duggan, M. (2020). Building a Risk Management Program. Cybersecurity Journal, 4(2), 44-52.
• Rainer, R. K., & Cegielski, P. (2018). Introduction to Information Systems: Supporting and Transforming Business (7th ed.). Wiley.
• Sharma, P., & Dubey, R. (2021). Strategic Risk Management in Cloud Computing: A Case Study. Journal of Cloud Computing, 10, Article 24.
• Stallings, W. (2019). Computer Security: Principles and Practice (4th ed.). Pearson.
• Zhang, X., & Wu, J. (2020). Cybersecurity Risk Assessment and Management: An Industry Perspective. Information & Management, 57(4), 103262.