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Assignment 1: Risk Management It is an accepted truth that without risk there can be no gain. Every individual and organization who wants to succeed must take some risks. Risk management is not about not taking risks, but about taking risks in a controlled environment for which one must understand the risks their triggers and their consequences. Write a four to five (4-5) page paper in which you: Contrast risk, threat, and vulnerability. Explain the relationship between risk and loss. Describe risk management and assess its level of importance in information security. Argue the need for organizations to take risks with its data (e.g., Is it a risky practice to store customer information for repeat visits.) Describe the necessary components in any organizational risk management plan. Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Explain the basic concepts and need for risk management. Describe the components of an effective organizational risk management program. Use technology and information resources to research issues in IT risk management. Write clearly and concisely about topics related to IT risk management using proper writing mechanics and technical style conventions. Points: 120 Assignment 1: Risk Management Criteria Unacceptable Below 70% F Fair 70-79% C Proficient 80-89% B Exemplary 90-100% A 1. Contrast risk, threat, and vulnerability. Weight: 10% Did not submit or incompletelycontrasted risk, threat, and vulnerability. Partially contrasted risk, threat, and vulnerability. Satisfactorily contrasted risk, threat, and vulnerability. Thoroughly contrasted risk, threat, and vulnerability. 2. Explain the relationship between risk and loss. Weight: 10% Did not submit or incompletely explained the relationship between risk and loss. Partially explained the relationship between risk and loss. Satisfactorily explained the relationship between risk and loss. Thoroughly explained the relationship between risk and loss. 3. Describe risk management and assess its level of importance in information security. Weight: 25% Did not submit or incompletely described risk management and did not submit or incompletely assessed its level of importance in information security. Partially described risk management and partially assessed its level of importance in information security. Satisfactorily described risk management and satisfactorily assessed its level of importance in information security. Thoroughly described risk management and thoroughly assessed its level of importance in information security. 4. Argue the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Weight: 25% Did not submit or incompletely argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Partially argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Satisfactorily argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Thoroughly argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) 5. Describe the necessary components in any organizational risk management plan. Weight: 15% Did not submit or incompletelydescribed the necessary components in any organizational risk management plan. Partially described the necessary components in any organizational risk management plan. Satisfactorily described the necessary components in any organizational risk management plan. Thoroughly described the necessary components in any organizational risk management plan. 6. 2 references Weight: 5% No references provided. Does not meet the required number of references; some or all references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices. 7. Clarity, writing mechanics, and formatting requirements Weight: 10% More than 6 errors present

Assignment 1: Risk Management

It is an accepted truth that without risk there can be no gain. Every individual and organization who wants to succeed must take some risks. Risk management is not about not taking risks, but about taking risks in a controlled environment for which one must understand the risks their triggers and their consequences.

Write a four to five (4-5) page paper in which you:

  1. Contrast risk, threat, and vulnerability.
  2. Explain the relationship between risk and loss.
  3. Describe risk management and assess its level of importance in information security.
  4. Argue the need for organizations to take risks with its data (e.g., Is it a risky practice to store customer information for repeat visits.)
  5. Describe the necessary components in any organizational risk management plan.
  6. Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Explain the basic concepts and need for risk management.
  • Describe the components of an effective organizational risk management program.
  • Use technology and information resources to research issues in IT risk management.
  • Write clearly and concisely about topics related to IT risk management using proper writing mechanics and technical style conventions.
Points: 120 Assignment 1: Risk Management
Criteria Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Contrast risk, threat, and vulnerability.

Weight: 10%

Did not submit or incompletelycontrasted risk, threat, and vulnerability. Partially contrasted risk, threat, and vulnerability. Satisfactorily contrasted risk, threat, and vulnerability. Thoroughly contrasted risk, threat, and vulnerability.
2. Explain the relationship between risk and loss.

Weight: 10%

Did not submit or incompletely explained the relationship between risk and loss. Partially explained the relationship between risk and loss. Satisfactorily explained the relationship between risk and loss. Thoroughly explained the relationship between risk and loss.
3. Describe risk management and assess its level of importance in information security.

Weight: 25%

Did not submit or incompletely described risk management and did not submit or incompletely assessed its level of importance in information security. Partially described risk management and partially assessed its level of importance in information security. Satisfactorily described risk management and satisfactorily assessed its level of importance in information security. Thoroughly described risk management and thoroughly assessed its level of importance in information security.
4. Argue the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.)

Weight: 25%

Did not submit or incompletely argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Partially argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Satisfactorily argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.) Thoroughly argued the need for organizations to take risks with its data. (e.g., Is it a risky practice to store customer information for repeat visits.)
5. Describe the necessary components in any organizational risk management plan.

Weight: 15%

Did not submit or incompletelydescribed the necessary components in any organizational risk management plan. Partially described the necessary components in any organizational risk management plan. Satisfactorily described the necessary components in any organizational risk management plan. Thoroughly described the necessary components in any organizational risk management plan.
6. 2 references

Weight: 5%

No references provided. Does not meet the required number of references; some or all references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices.
7. Clarity, writing mechanics, and formatting requirements

Weight: 10%

More than 6 errors present