Cloud Risks & Risks Management

TypesofRisk.pdf

2/2/22, 5:26 PM Types of Risk

https://leocontent.umgc.edu/content/scor/uncurated/cca/2218-cca610/learning-topic-list/types-of-risk.html?ou=622270 1/2

Types of Risk

There are two categories of risk: internal and external.

Internal Risks

Internal risks arise from inside of the company, and the types can include technology,

physical, and people. Examples of each are below:

Type Examples

Technology The company's software cannot function in a cloud environment

because of a programming error.

Physical The company suffers a fire at its headquarters and loses all physical

prototypes of its voting devices.

People A dishonest employee steals the company's plan for migration and

publishes it. This erodes public trust and results in contract

cancellation.

External Risks

External risks arise from outside of the company. There are natural factors such as natural

disasters and political factors such as new political leadership.

Vendor-Related Risks

Vendor-related risks are a substantial risk for the cloud computing model, and can include

vendor insolvency and service outages. In addition, a vendor may choose to arbitrarily

discontinue cloud services without notice.

Service-Level Related Risks

2/2/22, 5:26 PM Types of Risk

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In a cloud computing model, your internal information technology organization is not

responsible for all aspects of the company's platform. If your cloud computing vendor

suffers an outage, your customers suffer as well and you may not have any recourse. This

could lead to reduced revenue and leave an unfavorable perception of your organization

for customers.

Data Security, Privacy, Availability and Integrity in Cloud

Computing: Issues and Current Solutions

(https://leocontent.umgc.edu/content/scor/uncurated/cca/2218-

cca610/learning-resource-list/data-security--privacy--availability--

and-integrity-in-cloud-com.html?ou=622270)

Managing the Risk Inherent in Cloud Services

(https://leocontent.umgc.edu/content/scor/uncurated/cca/2218-

cca610/learning-resource-list/managing-the-risk-inherent-in-cloud-

services.html?ou=622270)

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