Types of Risk Flashcards
What is external risk?
Produced by non-human source and is beyond human control. Natural disasters, weather, wildfires, etc.
Note: Blackouts fall under this despite power systems being man made. Also, hackers fall under this category
What is internal risk?
Risks that are from within the organization and arise during normal operations. Often these are predictable and can be prepared for. Events such as a server crash or system error.
What is a legacy system risk?
An old method, technology, computer system or application which includes an outdated computer system still in use.
For example: There are still systems using Windows XP which was released in 2001.
What is multiparty risk?
The risk that refers to being connected to multiple systems and/or organizations, each with their own inherent risks.
What is intellectual property (IP) theft as a risk?
The risk of business assets and property being stolen which will cause economic damage, the loss of competitive edge, or slow down business growth.
What is software compliance/licensing risk?
A company not being aware of what software or components are installed within its network.
