Purpose and Scope of risk assessment

Question

What are the Purpose and Scope of risk assessment in an Organization?

Answer 1

Purpose and Scope of risk assessment:

Purpose:

We need to protect our organization and its ability to perform their missions against risks that occur in this digital era due to the use of automated information technology systems. Therefore risk management plays a critical role in the protection of its information assets and therefore its mission from IT-related risk. Risk management is considered to be performed in several steps such as identifying risk, assessing risk and finally taking steps to reduce the risk to an acceptable level.

Scope of this risk assessment:

The important step of risk management is risk assessment. Generally risks here are of two types such as human made and machine made. It is important to assess the risk. The scope of risk assessment mainly depends on its type. There are some virus attacks and hacking which can be assessed and action taken. There are some management issues such as permission to security areas, hacking of important documents by previous employees etc cannot be assessed so easily. Depending on the type of risk there are several methods by which they can be assessed. But not to cent percent.