Flashcards
2.4 Risk Scenario Development
Cards in this deck (5)
- 1Risk ScenarioA description of a possible threat event whose occurrence will have an uncertain impact on the achievement of the enterprise’s objectives (positive or negative).
Development of risk scenarios provide a way of conceptualizing risk that can aid in the process of risk identification - 2Top-down ApproachRisk practitioner looks for the outcome of events that may hamper business goals identified by senior management
Various scenarios are developed that allow the enterprise to examine the relationship between the risk event and the business goals
Suited to general risk management of the company, because it looks at both IT and non-IT related events. - 3Bottom-up ApproachBased on describing risk events that are specific to individual enterprise situations
Risk team starts with one or more generic risk scenarios, then refine them to meet their individual organizational needs (including building complex scenarios to account for coinciding events). - 4FAIR ModelThe Factor Analysis of Information Risk (FAIR) Model decomposes the major components that comprise risk into smaller, manageable components ready to be analyzed.
- 5HARM ModelThe Holistic Approach to Risk Management (HARM) is an entire methodology that is built on the OpenFair model (like FAIR) but accounts for loss magnitudes at a discrete level and factors in control objective maturity.
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- CRISC Risk Management Flashcards on 2.4 Risk Scenario Development, created by Karan Rao on 05/01/2023.
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- Karan Rao
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