Risk Assessment Results

Question

What are the consequences or results of Risk Assessment in an organization?

Answer 1

Risk Assessment Results:

Observation 1:

Terminated Employees can access the information from the site. They can enter in to the company’s web and access their important information if their IDs are not removed from the system. There is a system where the employees can enter to the web only in the office premises so that the terminated employees cannot enter the premises and cannot misuse the private and confidential data of the company. The impact will be high because the leaked data may harm the organization in any way. Likelihood will also be high since it may reach the opponents in the market. The risk rating is also high in this case. But the cost involved to control this is not high. If we keep a check on the login ids and passwords and terminate the ones of the terminated employees they can no longer enter the site and misuse the data.

Observation 2:

Unauthorized Users. They include hackers, terminated employees, computer criminals and terrorists. They are using telnet to browse the company’s data since the company is allowing guest user IDs.There is a process where the guest also has to enter the password and which can limit the usage of most important files. The likelihood is medium since we cannot restrict the users with guest IDs to most of the files. Impact is high since the information can be used in any way and can harm the organization. The risk rating is also high. The cost involved is not too high. The recommended control method is to disable telnet or allow only to specified users with a good password to protect the data.

Observation 3:

Unauthorized Users. They include hackers, disgruntled employees, computer criminals and terrorists. They can acquire unauthorized access to sensitive files if the vendors have errors regarding the security design of the system. We can limit the access by providing password to the sensitive and restricted areas. The likelihood is low because password can be hacked. Impact will be high since loss or misuse of sensitive data effects a lot. Risk also will be very high. The cost to control this is high too. There is an alternative for this problem. That is a software that keeps a record of all the users by their fingerprints and not by passwords.

Observation 4:

Fire & Negligent Persons. This harms an organization more than any one of the above. If we forget to turn off the water sprinkles it damages the hardware and equipment. This can be controlled by careful observation. Likelihood is low because we often forget to do this and constant check is not possible. Impact is high because the damage cannot be repaired. The risk level is also high. The cost is also high. The best alternative is to set alarm so that it rings when water leaks.