Assignment: Organizational Risk Appetite and Risk Assessment
Imagine that a software development company has just appointed you to lead a risk assessment project. The Chief Information Officer (CIO) of the organization has seen reports of malicious activity on the rise and has become extremely concerned with the protection of the intellectual property and highly sensitive data maintained by your organization. The CIO has asked you to prepare a short document before your team begins working. She would like for you to provide an overview of what the term "risk appetite" means and a suggested process for determining the risk appetite for the company. Also, she would like for you to provide some information about the method(s) you intend to use in performing a risk assessment.
Write a two to three (2-3) page paper in which you:
1. Analyze the term "risk appetite". Then, suggest at least one (1) practical example in which it applies.
2. Recommend the key method(s) for determining the risk appetite of the company.
3. Describe the process of performing a risk assessment.
4. Elaborate on the approach you will use when performing the risk assessment.
5. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
The specific course learning outcomes associated with this assignment are:
- Describe the components and basic requirements for creating an audit plan to support business and system considerations.
- Describe the parameters required to conduct and report on IT infrastructure audit for organizational compliance.
- Use technology and information resources to research issues in security strategy and policy formation.
- Write clearly and concisely about topics related to information technology audit and control using proper writing mechanics and technical style conventions.