{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Management.docx - Running head RISK MANAGEMENT 1 Risk...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Running head: RISK MANAGEMENT 1 Risk Management Institution Affiliation Instructor’s Name Student’s Name Course Code Date
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
RISK MANAGEMENT 2 RISK MANAGEMENT Discuss why risk management is an ongoing process. Risk management refers to a continuous process that runs through the whole life of the projects. This process includes planning, identification, analysis, monitoring and control (Williams, & Heins, 2005). All this component are processes that need to be updated through the project life cycle. This is because as the project continues being implemented new risks can be identified. Events can as well occur at any time. Therefore, it is the objective of the risk management process to decrease the probability and impact of event effect on the project. Exploit any event that brings about a positive impact is as well highly encouraged. Risk identification starts from the time a project is initiated, the risk hence continues increasing through the life cycle, and therefore mitigating plans are as well needed to counter the threats. Once a possibility has been identified, it is then assessed to determine the probability of its occurrence, many categories impacted and the degree to which they influence the project. All this assessment is meant to assign the risk a priority. A risk that has a great probability of occurrence, impact on the project is then mitigated and addition strategic plan taken. Therefore, the risk management process is an ongoing process to ensure that the risk that is identified through the life cycle of the project are all mitigated as the project continue being implemented. Describe the strategic roles of the three communities of interest. The three communities of interest include; the managers and professionals in the fields of IT, who are responsible for protecting the organization information data from the many threat they face. The managers and professional in the areas of information security are managers who support the business objectives of the organization and supplying IT that is appropriate to the
Image of page 2
RISK MANAGEMENT 3 organization’s needs. The professional in the fields of rest of the organization, which articulates and communicates organizational policy and objectives and allocates resources to the other groups (Cortes, Pregibon, & Volinsky, 2001). The three communities of interest are all
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern