"Analyzing Incident Response"

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Explain in your own words the importance of keeping an Incident Response Plan (IRP) up-to-date with changes in a business. Hypothesize what you believe to be the greatest reason for a corporation to not have an updated IRP and explain the potential issues this could create.
Imagine you are a chief information security officer (CISO) for a large corporation. Propose communication procedures you would consider utilizing for incident response, such as when to provide communication, and who you believe would be privy to those communications based on the need to know.