Analysis to Effective Security Management †MyAssignmenthelp.com

Question: Discuss about the Analysis to Effective Security Management. Answer: Introduction: The classification of the risk is done for considering the division of the risk in terms of situational demands of the system. The risks of the information system implementation would be divided into low, medium and high risks. The medium risks have been classified further into high medium risks and low medium risks. The VIC government would be formed for classifying the risk in their own levels and it is required for taking some stern steps in forming the preventing measures in the organization. The four types of risks are business risks, process risks, project risks and product risks. The business risks are related to the firms which handling any kind of business. While implementing or starting a business one must take all the care and calculate the business risk. It is a probability of a company to get loose. There is no chance of getting profit or gain rather they calculate only the loss. They are influenced by the government regulations, price sales of the unit, economic stability and instability, climatic changes, competitions. It is related to the uncertainty in the profit of the business. The process risk is associated with the loss in the process due to the failure of a certain process, inadequate work or due to the external events (Tsoumas Tryfonas, 2004). There are 6 classification of risk in information processing system of the VIC government. The risk of network structure had been involved with the communication of the risk factors. The IT implementation has to face a major risk of technology related in the operations of the VIC government organization. The technical risk arises from the errors of IT design and operations. The human made mistakes in the operations of the information system is another major issue in the project. The human error is causing a process failure. It is like entering a wrong data in the program causing an error or entering a wrong price in the stock exchange market causing the error, which in turn leads to the loss. The development of the man made errors would imply the error free system for the organization of VIC. The safety issue would be implied for forming the effective and developed processing. The human health safety risks would be a major issue for deploying the effective strain in the organization. The mechanical and phycial failure of the information system would be implied for forming the issues in the development of the opertaions. The processing quality is the final issue in the development of the effective opertaions. The checking of the quality is a major factor that had resulted in forming the effective opertaions by regulating the operations. The state of the busines would be implied for forming the effective flow of opertaions (Liderman, 2008). The exposure of the risk had been implied for forming the effective deployment of the effective processing in the organization. There are three types of risk allocated in the development of the information system for VIC organization. The transaction would be helpful for implying the development of the effective communication. The various factors of risk in the organization are economic risk, translation of the risk, and transaction risk. Sometimes the currency change in the international market also gives this loss. One has to take careful steps in this currency market value. It is associated mostly with the business involving in the more than one currency. It matters a lot due to the time lagging between the transaction execution and the settlement. The purchasing company must pay lot more money to earn the company to overcome the loss and avoid the debts. The next part is regarding the translation risk. The translation risk is associated with foreign exchange. Here the companies a ssociated with the foreign currency and foreign assets have this kind of risk. The solution for this kind of problem is to use the currency swapping techniques and adopted currency exchange. fixed income risks also should include in this. According to Stoneburner, Goguen, Feringa (2002), the definition of the economic risk can be implied for forming the evaluation of the macroeconomics and its change. The evaluation would include the activities of stock change and regulation of the government of the countries. The instability of the government in political situation would tend to overlook the factors of risk mitigation. The international investors will have more risks than the domestic investors. Hence the foreign investors always mind this risk before investing in away country stocks. The basic types of the economic risks are the risk of the rise of the prices of the raw materials. It also includes the price rise in the energy also. The next risk is the increase in the minimum wages, this is not possible if the company stocks are decreased. But the minimum wages are mandatory in all the companies. The next risk is due to the risk of the production price decreasing. Even the price remains same the company profit may not increase. The next one is interest rate risk which also known as credit risk. It occurs in the companies where they use the credit resources. The increase of the rates of the interest would lead to the negative effciency of opertaions (Purtell, 2008). The last risk factor that had been analhyzed in this report would be implied for the implementation of the informaiton system in the organization. The exportation of the risk would comply the development of the risk categories. Comparing Accidental and Deliberate Threats Accidental threats are one which deletes the files accidentally and some files are sent to wrong persons like emails to wrong persons. Some other accidental threats like portable devices are lost or miss placed. The portable devices may include USB devices, hard disks, pen drive or other memory device kind of stuff. These files may be retrieved if they are saved in the secondary storage other devices, sometimes cloud storage. But the problem here is not the data lost or retrieving. The main problem is from the sending file to a wrong person. If the information is confidential then the problem arises. (Orzechowski, 2007) It is important for ensuring that the activities of the project of implementing the information system in deployed for forming the improvement of the operations. The accidental threats are also formed that results in critical evaluation of the existing facilities for forming the deployment of the operations. The basic types of the economic risks are the risk of the rise of the prices of the raw materials. It also includes the price rise in the energy also. The next risk is the increase in the minimum wages, this is not possible if the company stocks are decreased. But the minimum wages are mandatory in all the companies. The next risk is due to the risk of the production price decreasing. Even the price remains same the company profit may not increase. The next one is interest rate risk which also known as credit risk. The purchasing company must pay lot more money to earn the company to overcome the loss and avoid the debts. The next part is regarding the translation risk. The trans lation risk is associated with foreign exchange. The threats of the delibearte risks is analyzed for forming the inactive development of the opertaions would tend to form the developmemnt of the effective deployment of the opertaions. The delibearte threats atre formed for intenationally hamring the opertaios of the proejct. Even the price remains same the company profit may not increase. The next one is interest rate risk which also known as credit risk. It occurs in the companies where they use the credit resources. The increase of the rates of the interest would lead to the negative effciency of opertaions. The basic types of the economic risks are the risk of the rise of the prices of the raw materials. It also includes the price rise in the energy also. The next risk is the increase in the minimum wages, this is not possible if the company stocks are decreased. But the minimum wages are mandatory in all the companies. The implementation of the hard passwords are a major factor that can help in developing the solutions to the effective unauthorize access. The unauthorized access had been formed for intentionally developing the issues in implementing the opertaional issues in the organization. The hard passwords and parapharse for forming the effective security of the information system would be helpful for forming the accurate secuirty in the organization (Halliday, Badenhorst Solms, 1996). The execution of the hard passwords are a main consideration that can help in building up the answers for the compelling unauthorize get to. The unapproved get to had been framed for deliberately building up the issues in actualizing the opertaional issues in the association. The hard passwords and parapharse for shaping the viable security of the data framework would be useful for framing the exact secuirty in the association Guidelines for implying public and personal safety The different variables of hazard in the association are monetary hazard, interpretation of the hazard, and exchange chance. Sometimes the money change in the global market additionally gives this misfortune. One needs to make watchful strides in this money showcase esteem. It is related generally with the business including in the more than one money. It is important a considerable measure because of the time slacking between the exchange execution and the settlement. According to Carr (2004), the development of the security threats would form the effective analysis of the implementation procedure. The internal threat factors for the implementation of the information system would tend to result in forming the issues of the operations in the organization. The internal focus of the organization would be implied effectively for adjusting the corporate analysis of the effective risk management in the organization. The various factors of risk in the organization are economic risk, transl ation of the risk, and transaction risk. Sometimes the currency change in the international market also gives this loss. One has to take careful steps in this currency market value. It is associated mostly with the business involving in the more than one currency. It matters a lot due to the time lagging between the transaction execution and the settlement. Challenges of Information system Implementation VIC government will confront different issues in deciding the technique for controlling the dangers and securities, which are confronted by the administration. The hazard can be overseen by two ways. Outside advisors do this kind of security administration. They have essential thought regarding the instruments and methods of the administration and a few security issues (Grzywak, 2000). These experts can cause the VIC government to control the dangers with progress and in this way lessen the dangers. There are different constraints in embracing this strategy moreover. The legislature should invest more cash and energy behind the outer specialists. There can be particular issues like misconstruing between the specialists and government. This kind of circumstance prompts more issue. The outside advisors won't not comprehend the issue in subtle elements and there can be circumstances where the specialists won't not be reliable. This security administration is the most straightforward alternative accessible to the legislature. Here the workers of the association will assume the part of counsels. There are sure points of interest of this administration technique. The representatives are the piece of the association and they know point by point data with the goal that the legislature won't need to pay additional time and assets not at all like on account of outer counsels. There are sure disservices of this technique moreover. The inward advisors can be impacted by a few managers and get befuddled. This strategy can prompt inward disagreement of the administration in view of various proposals. VIC government in having issues in picking their security administration. Be that as it may, an immaculate and appropriate hazard administration can help them to take care of their security issues. Outside and inward security administration, both are valuable for the legislature. Risk management is an effective process for analyzing the development of the factors of risk and developing some controlling factors for integrating in the organziation (Bandyopadhyay, Mykytyn Mykytyn, 1999). The risk management is employed for forming the effective development of the opertaions. The integration of the risk assessment would tend to form the analysis of the risk factors. The objectives of implementing the risk factors are Effective analysis of the risk: The effective analysis of the risk is the primary benefit of implementing the effective risk management plan (Tsoumas Tryfonas, 2004). The development of risk management plan would tend to help in the development of the opertaions. Minimize the impact of risk: The risk management plan would help in reducing the impact of the negative risk in the operations of the organiztaion (Bandyopadhyay, Mykytyn Mykytyn, 1999). The development of the project plan would be assisted by the use of the risk management plan as it would tend to reduce the negative impact of the project. We suggest the internal security and risk management from the above discussion. The main reason is privacy and data safety. We cannot expect the privacy if we give the security and risk management to outsiders. It is not easy to convince the stake holders to allow the security management to outsiders. The system access must be strictly limited insiders. The outsourcing is a bad idea in case of the security management. The other works can be assigned to others through outsourcing. The risk calculating details and past data of the organization is very confidential and hence it has to be maintained safely. The risks have to be monitored every time, the inside people best choice this job. Comparing Risk and Uncertainty of Victorian Data security. Risk Uncertainty Risk can be characterized as the circumstance, which has a serious likelihood of threat in up and coming future. Risks are of two sorts, internal and external (Liderman, 2008). The security hazards in the VIC government will be considered as critical. Here the administration knows the odds of the results. Dangers are controllable. The administration can control the dangers. It won't be wiped out but rather it can be limited. Uncertainty can be effortlessly characterized as unconventionality. It can be characterized as any circumstance where the future happenings are not known (Purtell, 2008). The VIC government won't know the result without bounds occasions and this can prompt hazard. Not at all like hazard, uncertainty is not under the control of the legislature and it can't be limited. When something is not accessible and dependable then that prompts uncertainty. Uncertainty prompts the arrangement of hazard. Risk mitigation for VIC government The risk management cycle comprises of developing the effective risk controlling and mitigation (Orzechowski, 2007). The cycle comprises of six steps namely, identify, analyze, prioritize, plan, mitigate, and monitor. These elements would form the effective analysis of the risk factors and development of the risk controlling in the organization. The exposure of the risk had been implied for forming the effective deployment of the effective processing in the organization. There are three types of risk allocated in the development of the information system for VIC organization. The transaction would be helpful for implying the development of the effective communication. Reference Bandyopadhyay, K., Mykytyn, P.P., Mykytyn, K., (1999). A framework for integrated risk management in information technology, Journal: Management Decision, Volume 37, Issue: 5, Page: 437 445. Carr, N., (2004). Does IT Matter? Information Technology and The Corrosion of Competitive Advantage, Harvard Business School Press. Grzywak, A., (2000) (ed.) Security of IT systems (In Polish), Jacek Skalmierski Publishing House, Gliwice. Halliday, S., Badenhorst, K., Von Solms, R., (1996). A business approach to effective information technology risk analysis and management, Journal of Information Management Computer Security, 1996, Volume: 4, Issue: 1, Page: 19 31 Liderman, K., (2008). Risk analysis and information security in computer systems (In Polish), PWN SA, Warsaw. Orzechowski, R., (2007). Effective application of IT in the enterprise, (In Polish) E-mentor no 3(20). Purtell, T., 2008). New View on IT Risk: Building a successful Information Technology risk management program, The RMA Journal. Stoneburner, G., Goguen, A., Feringa, A., (2002). Risk Management Guide for Information Technology Systems. Recommendations of the National Institute of Standards and Technology, National Institute of Standards and Technology. Tsoumas, V., Tryfonas, T., (2004), From risk analysis to effective security management: towards an automated approach. Information Management Computer Security Vol.12.