Practical Connection Assignment
Managing Risk in Information Systems
Lesson 4
Developing a Risk Management Plan
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1
Chapter 4 Slides
Chapter 4: “Developing a Risk Management Plan”
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Managing Risk in Information Systems
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Objectives of a Risk Management Plan
A list of threats
A list of vulnerabilities
Costs associated with risks
A list of recommendations to reduce the risks
Costs associated with recommendations
A cost-benefit analysis
One or more reports
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Managing Risk in Information Systems
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Scope of Plan Dimensions
Extent the plan will be organized
Level of implementation
Range of view and outlook
Degree of application and operation
Measurement of effectiveness
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Managing Risk in Information Systems
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Assignment of Responsibilities
Align resources
Assign responsibilities
Evaluate relationships
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Managing Risk in Information Systems
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Describing Procedures and Schedules for Accomplishment
Include a recommended solution for any threat or vulnerability, with a goal of mitigating the associated risk.
The solution will often include multiple steps.
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Managing Risk in Information Systems
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Describing Procedures and Schedules for Accomplishment
Describe each step in detail.
Include a timeline for completion of each step.
Remember:
Management is responsible for choosing the controls to implement.
Management is responsible for residual risk.
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Affinity Diagram
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Managing Risk in Information Systems
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Reporting Requirements
Present recommendations
Document management response to recommendations
Document and track implementation of accepted recommendations
Create plan of action and milestones (POAM)
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Managing Risk in Information Systems
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Reporting Requirements (Cont.)
Report should include:
Findings
Recommendation cost and time frame
Cost-benefit analysis
Reports are often summarized in risk statements
Use risk statements to communicate a risk and the resulting impact
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
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Using a Cause and Criteria Diagram
Evaluating a Web site
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Managing Risk in Information Systems
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Using a Cause and Criteria Diagram
Evaluating HIPAA compliance
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Plan of Action and Milestones (POAM)
A document used to track progress
Used to assign responsibility and to allow management follow-up
Is a living document
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Milestone Plan Chart
Only lists major milestones
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Gantt Chart
Shows a full project schedule
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Critical Path Chart
Identifies critical tasks to be managed
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
Risk Management Functions
Senior management
IT management
System and information owners
Functional management
Information security (IS) management
Security awareness trainers
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Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.
5/28/2018
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Summary
Risk, threats, vulnerabilities, and exploits
Public resources for risk management
Use of threat/vulnerability pairs in managing risk
Fundamental components of a risk management plan
Objectives of a risk management plan
Objectives and scope of a risk management plan
Importance of assigning responsibilities
Significance of planning, scheduling, and documentation
Page ‹#›
Managing Risk in Information Systems
© 2015 Jones and Bartlett Learning, LLC, an Ascend Learning Company
www.jblearning.com
All rights reserved.