8 ITE403 Whitman Ch05 W5C3
8 ITE403 Whitman Ch05 W5C3
8 ITE403 Whitman Ch05 W5C3
Chapter 5
Risk Management
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Learning Objectives
• Upon completion of this material, you should be able to:
– Define risk management, risk identification, risk assessment,
and risk control
– Describe how risk is identified and assessed
– Assess risk based on probability of occurrence and likely
expected impact
– Explain the fundamental aspects of documenting risk via the
process of risk assessment
– Describe various options for a risk mitigation strategy
– Define risk appetite and explain how it relates to residual risk
– Discuss conceptual frameworks for evaluating risk controls and
formulate a cost-benefit analysis
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Introduction (1 of 2)
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Risk Control
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Defense
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Transference
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Mitigation
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• Acceptance
– Doing nothing to protect a vulnerability and accepting the
outcome of its exploitation
– Valid only when the particular function, service,
information, or asset does not justify the cost of protection
• Termination
– Directs the organization to avoid business activities that
introduce uncontrollable risks
– May seek an alternate mechanism to meet the customer
needs
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Selecting a Risk Control Strategy
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Figure 5-13 Relationship of risk to threats,
assets, and countermeasures
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Justifying Controls (1 of 2)
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Justifying Controls (2 of 2)
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
for classroom use.
Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
for classroom use.
Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Quantitative Versus Qualitative Risk Control
Practices
• Performing the previous steps using actual values or
estimates is known as quantitative assessment.
• Possible to complete steps using an evaluation process
based on characteristics using nonnumerical measures,
called qualitative assessment.
• Utilizing scales rather than specific estimates relieves
the organization from the difficulty of determining exact
values.
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
for classroom use.
Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
for classroom use.
Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
for classroom use.
Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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• Baselining
– Performance value or metric used to compare changes in
the object being measured.
– In information security, baselining is the comparison of
past security activities and events against an
organization’s future performance.
– Useful during baselining to have a guide to the overall
process.
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Documenting Results
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Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Copyright © 2018 Cengage. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Summary (1 of 3)
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Summary (2 of 3)
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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Summary (3 of 3)
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permitted in a license distributed with a certain product or service or otherwise on a password-protected website
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