What is the best value that should be assessed when evaluating the worth of an information asset to the organization - replacement cost or lost income while repairing ?
Replacement cost will be the most important when a company purchases new asset, such as factory machines, which cost more than the parts.
What is the likelihood value of a vulnerability that no longer must be considered?
What is the likelihood value of a vulnerability that no longer must be considered?
Process works best when people with diverse backgrounds within organization work iteratively in a series of brainstorming sessions, this kind of workers are no longer be considered as a risk.
In what instances is baselining or benchmarking superior to cost benefit analysis?
Benchmarking – an alternative strategy to the cost benefit analysis and its attempt to place a hard dollar figure on each information asset is to approach risk management from a different angle.
Benchmarking is process of seeking out and studying practices in other organizations that one’s own organization desires to duplicate.
How can we find out what an organization's risk appetite is? Why is this important?
We must identify, examine and understand the information, and system, currently in place. In order to protect our assets, defined here as the information and the systems that use store, and transmit it, we have to understand everything about the information.
It is important because a risk management strategy calls on us to “know ourselves” by identifying classifying, and prioritizing the organization’s information assets.
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