A firm hosts e-commerce transactions for other companies. The firm processes credit purchases supporting most major credit cards and is known as an inexpensive alternative to larger competitors. The firm is deploying new security software that is state of the art for e-commerce. It should increase security while speeding up transactions because of the new security algorithms.

Part 1: List and discuss the six steps in risk management for the new e-commerce project

Part 2: Describe a positive and negative risk event, the related consequences, and the risk response plans for the e-commerce project.