Research paper Summary

In this modern world with huge amounts of data, security has become an issue and data is lost in many ways. Protecting data from unauthorized access and data corruption falls under the data security process which mainly includes encryption, tokenization and many other management activities including applications and platforms. “Cyber security” is the process and architecture of blocking computer, servers, devices, network and all electronic systems from the security attacks (Das, R. 2020). Loss of company’s information and access to data can take place if compromised. Protecting the business information is the most essential thing in this present world which increases productivity, also inspires the customer confidence, stops the website from crashing and protecting the customer information from compromising are the important factors in cyber security. Confidentiality, integrity and availability are the three pillars of cyber security process. The main principle of confidentiality is the information and functions, trust worthiness falls under integrity by sharing the authorized user information. Availability is to make sure all the authorized users are given the access to shared information to work on keep moving as necessary actions to be taken. 

“Risk management” is the process of forecasting and evaluating the risk in financial aspect along with the identification of procedures to reduce the impact. The context of risk management always related to project management life cycle including initiation, planning, execution and monitoring the reviews. This process always needs to be applied in the beginning itself. Risk management has a sector called monitor and review all throughout the process to take the managerial decisions. Context and objectives with absolute clarity is applied under risk management process (Stulz, R. M. 1996). Developing and agreeing on the concepts with reviews under the uncertainty takes place before identifying the risk. Experience is always necessary to identify a risk within a team or an organization. Project being a temporary initiative with routine work, accounting and sales are the repeating activities. Goal that needs to be achieved out of the project on a timely manner is to be taken care by the manager basically called as project management. This process needs continuous monitoring along with the cost and time. Increasing the resources to have a better output in a timely manner in consideration with the budget can be gradually increased based on the input (Boehm, B. W. 1991).