Week 3 Structured Assignment: Risk Assessment Create A Risk

Week 3 Structured Assignment Risk Assessmentcreate A Risk Assessment

Create a risk assessment for SanGrafix, a video game design company. The risk assessment may involve identifying simple security vulnerabilities such as an unlocked door or a written password, or it could be a comprehensive process requiring multiple team members and extended timeframes, depending on the scope of the environment. While your organization may not be as large as a multinational enterprise, apply a methodical approach to gather accurate and useful data, avoiding resource waste and oversight.

Utilize the provided documentation templates located in the section, specifically the files: Case0201File01.doc, Case0201File02.doc, Case0201File03.doc, and Case0201File04.doc. Make additional copies as necessary. Each worksheet must be completed carefully, as they will be incorporated into your final Business Continuity Plan (BCP) as part of the appendix.

Ensure to follow the instructions within each worksheet diligently to produce a comprehensive risk assessment. The process involves evaluating potential threats, vulnerabilities, and the impact on the organization. The assessment should include both qualitative and quantitative analysis methods, drawing on techniques presented in the referenced video by Professor Messer on risk assessment strategies.

Paper For Above instruction

Risk assessment is an essential component of any organization’s security and operational planning, especially for companies in the technology sector such as SanGrafix, a video game design firm. Developing a comprehensive risk assessment involves identifying potential threats, evaluating vulnerabilities, and determining the potential impact on the organization’s assets, operations, and reputation. A systematic approach ensures that risks are accurately identified, prioritized, and addressed effectively, reducing the likelihood of unforeseen incidents and minimizing their consequences.

In the context of SanGrafix, a medium-sized company focused on video game development, the risk environment encompasses various elements including physical security, digital infrastructure, personnel safety, and intellectual property protection. The risk assessment process begins with asset identification—such as servers, development devices, proprietary code, and sensitive client data—and extends to threat identification, which may include cyberattacks, insider threats, physical intrusions, or environmental hazards.

Utilizing the templates provided (Case0201File01.doc through Case0201File04.doc), the process involves systematically documenting vulnerabilities. For instance, an unlocked server room door represents a physical vulnerability, while weak password policies or unpatched software constitute digital vulnerabilities. Each identified vulnerability should be analyzed for potential impact—considering factors such as data loss, operational downtime, or reputational damage—and likelihood, based on existing controls and threat prevalence.

Quantitative methods, such as calculating the expected monetary loss, and qualitative assessments, such as rating the severity of a threat on a scale, help prioritize risks. For example, cyberattacks might be rated as high risk due to their frequency and potential impact, necessitating immediate mitigation strategies. Conversely, physical hazards like a loose ceiling tile might be rated as lower risk but still require monitoring and maintenance.

Communicating these findings in the completed risk assessment document ensures that decision-makers understand the most critical vulnerabilities and can develop targeted mitigation strategies. These may include technical controls like firewalls and intrusion detection systems, administrative controls such as staff training and policy enforcement, or physical security enhancements.

It is vital that the risk assessment is a thorough, continuous process; risks evolve as the organization grows and technology advances. Regular reviews and updates, incorporating lessons learned and new threat intelligence, maintain organizational resilience. The integration of quantitative and qualitative techniques provides a balanced perspective—combining measurable financial impacts with expert judgment and experience.

In conclusion, a well-prepared risk assessment tailored for SanGrafix enables proactive management of vulnerabilities, supports strategic decision-making, and enhances overall security posture. Applying these core principles ensures not only regulatory compliance but also the safeguarding of valuable assets, including intellectual property and human resources, thereby securing the company's future growth and stability.

References

• Boss, S. (2015). Cybersecurity risk management: master the fundamentals using NIST, ISO, and common frameworks. Syngress.
• Gordon, L. A., Loeb, M. P., & Zhou, L. (2011). The impact of information security breaches: Has there been a material change in the last five years? Journal of Computer Security, 19(4), 507-534.
• Haar, R. (2014). Quantitative and qualitative risk assessment methods. Risk Management Journal, 62(3), 45-52.
• ISO/IEC 27005:2018. Information technology — Security techniques — Information security risk management.
• McAllister, I. (2016). Conducting physical security risk assessments. Security Management, 60(2), 34-39.
• National Institute of Standards and Technology (NIST). (2012). Framework for Improving Critical Infrastructure Cybersecurity.
• Peltier, T. R. (2016). Information security metrics: A practical framework for measuring security & demonstrating value. Auerbach Publications.
• Stallings, W. (2017). Computer security principles and practice. Pearson Education.
• Vose, D. (2008). Quantitative risk analysis: A guide to current practices. Wiley.
• Whitman, M., & Mattord, H. (2018). Principles of information security. Cengage Learning.