1-Risk Management Concept

Question 1

What is the purpose of risk management

Answer 1

The purpose of risk management is the identification of credible threats and the means to decide what to do about those threats.

Question 2

On what factors a risk management program depends on

Answer 2

Support from executive management, and an organization’s culture with respect to security awareness and accountability.

Question 3

On what should the security solutions portfolio based on ?

Answer 3

The security solutions portfolio should be based on supporting the business objectives and have defined success criteria, business requirements, and technical requirements prior to the purchase of specific technologies.

Question 4

Factors that influence what risk management framework should be adopted

Answer 4

Internal and External factors

Question 5

What is needed to be known before applying a risk management framework in an organization

Answer 5

The organization’s mission, objectives, strategies, cultures, practices, structure, financial conditions, risk appetite, and level of executive management support.

Question 6

What is next after a framework has been selected

Answer 6

The security manager can then start to develop a sound risk management strategy.