Implementing and Managing Risk

Posted by Julius Spike on September 17th, 2023

In the current era of technological evolution, most businesses depend on information technology for operation. The owners of these businesses must be aware of the risks that face their business and they must also come up with measures that are useful in mitigating these risks. The range and the nature of these risks must be defined with precision. The following post identifies two examples of information technology risk issues and the events that are related. Various risk management practices for these incidences are also covered and recommendations on how to resolve the risk. Research is undertaken alongside other research papers such as why do you want to be a nurse practitioner essay. 

            Technological risk issues can be grouped into various categories such as general IT threats and criminal IT threats. General threats include issues such as the failure of the hardware and the software. A good example of this type of risk is a likelihood of the loss of power and data corruption. The other kind of threat, which is criminal threat, occurs when criminals target a computer system with the intention of causing harm. A good example of this type of risk is the likelihood of a system been hacked. Various management practices may be used to mitigate this kind of risks. The risk loss of power and data corruption can be mitigated by having an automatic data backup system. This ensures that data is not lost when power goes out abruptly or when data is corrupted. By any chance that any of these incidences occur, the data can easily be retrieved.

            The second type of threat relates to hacking which falls under criminal threats. Such a threat can be mitigated by ensuring that a computer system has adequate security measures. For instance, one should ensure that simple passwords are not used instead, passwords that are secure should be used. In addition, the system should be upgraded regularly in order to ensure that all the new security features and measures are integrated. In case the first incidence occurs and a back-up system had not been installed, one should first ensure that all the data is secure and try to salvage the data that was not affected. Afterward, a back-up system should be installed to prevent such incidences from occurring. On the other hand, if a computer system is hacked, the first step is to report the issue to the authorities. At the same time, the damage that was caused should be determined and the loophole that gave way to the hackers. Afterward, upgraded measures should be taken to prevent such an incident from recurring.