Assignment 1: Risk Management

Assignment 1: Risk Management
Due Week 2 and worth 120 points

It is an accepted truth that without risk there can be no gain. Every individual and organization who wants to succeed must take some risks. Risk management is not about not taking risks, but about taking risks in a controlled environment for which one must understand the risks their triggers and their consequences.

Write a four to five (4-5) page paper in which you:

1. Contrast risk, threat, and vulnerability.
2. Explain the relationship between risk and loss.
3. Describe risk management and assess its level of importance in information security.
4. Argue the need for organizations to take risks with its data (e.g., Is it a risky practice to store customer information for repeat visits.)
5. Describe the necessary components in any organizational risk management plan.
6. Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.