How To Write IT Risk Management Assignment?

Information technologies have penetrated almost every business domain. This assists the organizations in resolving the issues they face and simplifying the operations they carry out. It does save not only the time of the firm but also minimizes the cost of operations. If you own or oversee a business that uses IT, it is crucial to identify risk to your IT systems and data, reduce or manage those risks, and develop a response plan in the event of an IT crisis. Business owners have legal obligations concerning privacy, electronic transactions, and staff training that regulate IT risk management procedures. 

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IT risks comprise hardware and software collapse, malicious attacks, spam, viruses, and human error, as well as natural disasters such as floods, cyclones, or fires.

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Common IT and Data Threats that are needed to be considered are as follows:-

  • Human Errors– Incorrect data processing, accidental opening of infected email attachments, or carelessness in data disposals. 
  • Malware– Malicious software designed to disrupt computer operations.
  • Spam, Scams, and Phishing– Unsolicited emails that seek to fool people into revealing personal details or buying fraudulent goods. 
  • Viruses– Computer code that can copy itself and spread from one computer to another, often disrupting computer operations. 

Criminal IT Threats are as follows:-

  • Fraud– Using a computer to alter data for illegal benefits.
  • Denial of service– Online attacks that prevent website access for authorized users.
  • Hackers- People who illegally break into computer systems.
  • Security breaches– Includes physical break-ins as well as online intrusion.
  • Staff Dishonesty– Theft of data or sensitive information, such as customer details. 

Supervising Information Technology (IT) Risks is a Structured Process that Involves a Series of Activities Designed

Supervising Information Technology (IT) Risks is a Structured Process that Involves a Series of Activities Designed to:-

  • Assess risks
  • Identify risks
  • Mitigate risks
  • Develop response plans
  • Review risk management procedures 

Practical Steps to Improve IT Security are as follows:-

  • Regularly update the software to the latest versions.
  • Secure computers, servers, and wireless networks. 
  • Use anti-virus and anti-spyware protection and firewalls.
  • Use data backups that cover off-site or remote storage.
  • Train staff in IT policies and procedures.
  • Secure your passwords.
  • Understand legal obligations for online business.

Steps to Shield Against External Threats to IT Systems

Steps to Shield Against External Threats to IT Systems:-

  • Authorize wireless or Wi-Fi network security and change the default password immediately because most default passwords are well-known to hackers. 
  • Select strong passwords involving a combination of numbers and upper and lower case letters. Change the password regularly. 
  • Backup data regularly and store copies of backups off-site.

Steps to Shield Against Internal Threats to IT Systems:-

  • Store data carefully- choose who has access to it and decide what devices you allow staff to connect to your network.
  • Be aware of spam claiming to be from trusted email senders- for example, banks do not do business by email. 
  • Secure your website with passwords so authentic users can assess the site.  

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