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Conduct a risk assessment for Health Network Inc. that includes identifying assets, people, processes, and technologies; utilizing appropriate tools; documenting findings; performing a Business Impact Analysis; developing a risk mitigation plan; and evaluating the organization's risk tolerance.

Paper For Above instruction

Introduction

Health Network Inc., a prominent healthcare technology provider, operates with a complex infrastructure that includes multiple locations, data centers, and a suite of digital health products. As an IT intern tasked with conducting a comprehensive risk assessment, it is essential to understand the organization’s structure, assets, vulnerabilities, and operational environment. This paper presents a detailed risk assessment divided into the scope, tools, findings, and business impact analysis, laying the groundwork for subsequent risk mitigation planning.

Scope of the Risk Assessment

The scope of this risk assessment encompasses critical assets, personnel, processes, and technologies integral to Health Network Inc.’s operations. The assets include hardware such as servers, laptops, mobile devices, and data repositories stored within the three data centers located in Minneapolis, Portland, and Arlington. Personnel comprises over 600 employees, including healthcare professionals, IT staff, and administrative personnel, all of whom use or access sensitive data and systems. Processes involve software applications like HNetExchange, HNetPay, and HNetConnect, along with support functions for security, compliance, and data management. Technologies include network infrastructure, data storage solutions, operating systems, and security systems deployed across locations. Recognizing these components is vital to identify vulnerabilities, potential threats, and areas requiring protective measures.

Tools Utilized for the Risk Assessment

Several tools are employed to conduct a thorough risk assessment. Vulnerability scanning tools such as Nessus or OpenVAS help identify weaknesses in networked systems and software applications. Asset management software ensures comprehensive tracking of hardware and software. Network analysis tools like Wireshark provide insights into network traffic patterns and anomalies that could indicate security issues. Risk management frameworks such as NIST SP 800-30 guide systematic assessment procedures, prioritizing vulnerabilities based on their potential impact. Additionally, interviews and questionnaires with key personnel aid understanding of operational practices and insider threats. These tools collectively support a structured evaluation of the organization’s security posture and risk exposure.

Findings from the Risk Assessment

The risk assessment revealed multiple vulnerabilities and threats. Hardware loss poses significant risks, particularly with mobile devices and laptops susceptible to theft or misplacement. Data stored across data centers, if not properly protected, risks exposure due to physical or cyber threats. Production outages could result from natural disasters, software instability, or change management issues, impacting service delivery. Internet-facing products such as HNetExchange, HNetPay, and HNetConnect are vulnerable to external threats like hacking, intrusion, and malware. Insider threats—employees or contractors with authorized access—remain a concerning risk, especially if access controls are weak or insufficiently monitored. Regulatory changes also threaten compliance and operational continuity. The organization’s current risk assessment is outdated, emphasizing the need for an updated, comprehensive review.

Business Impact Analysis (BIA)

The BIA identified critical functions and their dependencies, highlighting the potential impact of various threats. Data breaches or loss of sensitive health information could lead to legal penalties, financial losses, and damage to reputation. Production outages directly affect customer trust, revenue streams, and contractual obligations, especially for services like HNetExchange and HNetPay. Natural disasters or cyberattacks could disrupt data center operations, halting service delivery. The loss of mobile devices and laptops risks confidential information leaks, while insider threats could result in sabotage or data misuse. Ensuring business continuity requires understanding these impacts and implementing safeguards to minimize downtime and data loss.

Conclusion

This risk assessment underscores the importance of a proactive approach to safeguarding Health Network Inc.’s assets, personnel, processes, and technologies. The identified vulnerabilities and threats necessitate corresponding mitigation strategies, including enhanced security controls, employee training, and disaster recovery planning. The next phase involves developing a risk mitigation plan that addresses these vulnerabilities, evaluates risk appetite, and lays out future initiatives to mitigate residual risks effectively.

References

  • National Institute of Standards and Technology. (2012). Guide for Conducting Risk Assessments. NIST Special Publication 800-30 Revision 1.
  • ISO/IEC 27001:2013. Information Security Management Systems — Requirements.
  • Whitman, M. E., & Mattord, H. J. (2018). Principles of Information Security. Jones & Bartlett Learning.
  • Sowa, J. E. (2014). Information Assurance and Security Policies, Processes, and Practice. CRC Press.
  • Rittinghouse, J. W., & Ransome, J. F. (2017). Cybersecurity and Cyberwar: What Everyone Needs to Know. Oxford University Press.
  • Azma, M., & Jafari, M. (2020). Risk management in healthcare information systems: A systematic review. Journal of Medical Systems, 44(6), 1-15.
  • Choi, B., & Lee, J. (2019). Protecting healthcare data through risk assessment and management. Healthcare Informatics Research, 25(4), 263–271.
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  • Anderson, R. (2020). Security Engineering: A Guide to Building Dependable Distributed Systems. Wiley Publishing.

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