Risk Analysis

Risk Analysis

1. Identify potential risks

   • e.g. viruses/fire/natural damage/hacking/systems failure/fraud

2. Likelihood of risk occurring

   • some things such as power cut are inevitable but explosions much less likely-senior managers have to access the likelihood of each risk occurring and put in the necessary security

3. short and long term consequences of threat

   • resouces need to be directed towards recovering the data/you may have to pay compensation/financial loss due to the loss of bussiness through not being able to take orders/embaressment/prosecution/loss of integrity/bankruptcy/cost of replacing equiptment

4. How well equipped is the company to deal with the threat (What procedures are in place)

   • Has to be reviewed periodically because of changing needs-disaster recovery program--backup strategy-cost(how much they prepared to spend), use of firewalls-use of anti virus