Dr. Benjamin Khoo New York Institute of Technology School of Management

1. Why should a Risk Assessment be conducted? 2. When should a Risk Analysis be conducted? 3. Who should conduct the Risk Analysis and Risk Assessment? 4. Who within the organization should conduct the Risk Analysis and Risk Assessment? 5. How long should a Risk Analysis or Risk Assessment take? 6. What can a Risk Analysis or Risk Assessment Analyze?

7. What can the results of Risk Management tell an Organization? 8. Who should review the results of a Risk Analysis? 9. How is the success of the Risk Analysis measured?

1. Overview - RM used to balance operational & economic costs of protective measures (IS) and achieve gains in mission capability. - made up of: 1. risk analysis 2. risk assessment 3. risk mitigation 4. vulnerability assessment & controls evaluation. See Table 2.1 for definitions.

2. Risk Assessment as part of the business process See Figure 2.1 Risk Management Activities mapped to the SDLC See Table 2.2

3. Employee Roles and Responsibilities See Table 2.3, Table 2.4 & Table 2.5 for examples. 4. Information Security Life Cycle See Figure Risk Analysis Process

6. Risk Assessment 1.Asset Definition 2.Threat Identification (See Table 2.6) 3. Determine Probability of Occurrence 4.Determine the Impact of the Threat (See Figure 2.3 and Figure 2.4) 5.Controls Recommended 6.Documentation