Primarily the risk assessment is the process of

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management make one understand the risks which may occur in the organization. Primarily, the risk assessment is the process of looking into the company’s objectives and find out how the processes are working and possible threats. The organization may face many risks coming from outside sources like cyber-attacks, data theft, which may lead to loss of valuable information as well as formulas. The risk assessment and management impacts are prioritizing risks to set up a critical and significant rank. However, it results in providing insights to the project management as well as mitigating the realization of a high probability of risk events. Risk assessment and management create companywide objectives whereby the stakeholders come together to set common goals and objectives for the organization and decision making. The risk assessment also manages changes in the company whereby the company can make changes where necessary whenever they detect any oncoming risk and perform risk identification and analysis. Control Activities : This COSO framework component accesses the organization’s policy and procedure and security implementation as well as the plans set to manage the organization’s continuity. Besides, control activities are plans to ensure continuity of business in an organization. In other words, control activities' objectives are to anticipate an approach to security, activity control, and aligning with the set goals and missions. The impacts of Control Activities are that the management set cross-functional goals aligned with the risk appetite. Nonetheless, control activities create a risk appetite statement that becomes integrated into the organization's decision making. Outsourcing : This component entails the responsibilities of organizational outsourcing and managing these external resources. Explicitly, how the information is shared and the way it is conveyed influences one’s ability to outsource important creativities and tasks. Correspondingly,
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