AminataFunchess BUS 519 assign2.docx

Technical complexity the new software that was

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Technical complexity- the new software that was recently purchased could still be a viable system if an experienced IT Specialist managed and maintained the system to allow it function properly. The errors could exist with the operator of the system. If it is determined the system is not adequate to handle the type of data breach that was recently experienced, the company would need to evaluate other available options.
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RISK MANAGEMENT PLAN 4 Market sector regulatory characteristics- Flayton’s Electronics is required to meet compliance standards which is mandated by the major credit card companies. CIO Sergei admitted to only reaching 75% of the PCI requirements. This is standard across the board for companies that access the public’s credit card information. Project value- The project’s budget has been predetermined to be $100,000. This is considered a small budget on the criterion value scale. Project duration- The project is not to exceed a 6-month timeframe. Project resources- The project includes all in house employees with the exception of the Public Relations consultant. This is needed to handle the rebranding and market aspects of the business. It is also cost effective to use this resource on an as needed basis versus a full time hire. Post-project liabilities- The post project liabilities should be low. The purpose for the project is to mitigate risk and future liabilities due to data breaches. Once the risk management program is implemented any future cost should be included in the current budget. Select the risk tools and techniques, and complete the Risk Tools and Techniques section of the Risk Management Plan for both the qualitative and quantitative aspects of the project. Provide a rationale for the selection. The following tools and techniques will be used to support the risk management process on the Data Security Risk Management Program: Initiation This Data Security Risk Management Plan is an outline by the project managers throughout the duration of the project. The initiation phase will be completed before the project begins. The remaining steps in the risk process will be repeated regularly throughout the life of the project. The first risk assessment will be completed Identification Risks (both threats and opportunities) will be identified using the following techniques: Analyzing the current software system with the CIO, CEO and new IT Specialist to evaluate if the system can protect users’ information or if upgrades are needed Review the requirements for the PCI scan quarterly and conduct random checks on the system to ensure firewalls are not continuously crashing
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RISK MANAGEMENT PLAN 5 Assessment Probability and impact assessment for each identified risk. VHI 6 MO 71-99% >100,000 HI 5-6 51-70% 50K-100K MED 4-5 31-50% 25K-50K LO 3-4 11-30% 5K-25K VLO 2-3 1-10% <5K
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RISK MANAGEMENT PLAN 6 NIL 1-2 NO CHANGE NO CHANGE Top risk list for priority management attention Additional breaches to the system Former and current employees that have knowledge of system vulnerabilities RBS LEVEL 0 RBS LEVEL 1
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