Risk Analysis Example

Risk Analysis Example Risk Analysis – Coursework Example Risk Analysis [Pick the With the increasing use of modern information technology, it is become increasing important that appropriate measures be taken by organizations to protect their information from cyber threats and the related warfare. Managers of businesses are therefore becoming increasingly conscious about the sensitivity of this issue, and are employing various measures to ensure privacy and protection (Steer et al, 2010). Due to the fact that the world is turning into a global village, the managers should keep in mind the fact that additional measures should be taken to ensure security of a company’s information, if information has been outsourced to third parties for processing.In order to ensure the effectiveness of measures taken to protect sensitive information, it is essential that a detailed risk analysis is conducted on frequent intervals to identify the nature and existence of risks that arise with the passage of time (Campana, 2008). Since new threats arise continuously, the managers should be extremely vigilant in this regard and continuous monitoring should be carried out to detect the risks. Additionally, they should continuously update their knowledge regarding detection and management of the risks that arise in the world of information technology. The basic notion that underlies the measurement of success of risk analysis is the comparison of performance to the already established objectives. The risk analysis can be regarded as being successful if the performance of the system shows the required improvement (Bonham, 2008). Contrary to this, if the performance fails to correspond to the pre-defined objectives, risk analysis may be regarded as being faulty or unsuccessful. ReferencesBonham, S. S. (2008).  Actionable strategies through integrated performance, process, project, and risk management. Boston: Artech House.Campana, J. (2008).  Privacy makeover: The essential guide to best practices : how to protect assets and foster consumer loyalty. Madison, WI: Bell House Press.Steers, R. M., SaÃŒ nchez-Runde, S. C. J., & Nardon, L. (2010).  Management across cultures: Challenges and strategies. Cambridge [etc.: Cambridge University Press.