Risk Management

Risk Management

Explain the relationship between security and risk management. Take a more critical position in a small, large, and nonprofit organization.

Security management is part of an organization’s overall goal of risk management. Risk management is the process of forecasting and identifying an organization’s risks and developing a plan to mitigate and manage the risks. Security issues are part of the risks that face most organizations; hence, security management is a part of the risk management process. Both security and risk management are essential in small, large, and nonprofit organizations. None is more important than the other because each faces the risks of adverse outcomes from security and other kinds of risks.

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Suppose top management is against implementing an enterprise security risk management plan simply because it wastes time and money. Describe the actions you would take to sway management’s opinion. Include why management should change its mind and provide real-life examples if necessary.

To sway the management’s opinion on security risk management, it is essential first to highlight the security risks that the organization faces and later show how security management can help to deal with such risks. Assessing security risks helps identify and develop plans to deal with them (Saleh & Alfantookh, 2011). For example, Walmart was attacked by cyber criminals who stole customer details to be used in financial fraud. With proper planning, the business would have avoided such a breach.

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Reference

Saleh, M. S., & Alfantookh, A. (2011). A new comprehensive framework for enterprise information security risk management. Applied computing and informatics, 9(2), 107-118.

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Risk Management

Please respond to the following:

• Explain the relationship between security and risk management. Take a more critical position in a small, large, and nonprofit organization.
• Suppose top management is against implementing an enterprise security risk management plan simply because it wastes time and money. Describe the actions you would take to sway management’s opinion. Include why management should change its mind and provide real-life examples if necessary.