Gai Risk Assessment Paper

In: Computers and Technology

Submitted By markcjohnson1234
Words 3626
Pages 15
Global Asset, Inc. (GAI)

Risk Assessment Paper

By
_____________
May 3, 2015
CMIT 425
Professor

Effective Network System
In this paper I will show the management team of GLOBAL ASSET, INC. the importance/benefits of having an internally operational Information System, over the benefits they believe they will reap when they outsource such services. I will also convince and help them design a better and more secure Information System.
Among the odds of outsourcing IT services there are benefits too, but the cons outdo the pros: benefits include;
* Reduced operational and recruitment cost: as the cost of having an internal IT firm outdo the cost of outsourcing the same services by over 30%
* Risk sharing: This helps to share some of the responsibilities with the company you are outsourcing to.
* Swiftness and Expertise: Mostly the firms that take the outsourced contracts have been in the industry for a long time and have built a strong and positive company profile through the quality of service they provide.
* Concentrating on main process rather than the supporting ones: Outsourcing the minor/supporting processes enables the organization to have more time to perfect or strengthen their main business operations
However the disadvantages outweigh the benefits and include:
* Risk of Exposing confidential data: When such an organizations outsources IT services it risks exposing its customers and companies information to third parties, as in the case with GLOBAL ASSET, INC.
* Synchronizing the deliverables: When a company fails to choose the best partner that offers such services for reasons like; family, nepotism or corruption they risk getting poor services that can even render them un-operational for some time and the risks of losing clients to competitors.
* Lack of customer focus: In most chases companies may prioritize your…...

Similar Documents

Risk Assessment

...Practical Risk Assessment The following example is an activity that could be carried out at work – but which most people will do at home – changing a lightbulb. I have chosen this as it is an example of an activity that most people can relate to, wether we live in a house or a bungalow. The fluorescent light is on the ground floor of an office block. It is four o’clock on a December afternoon and must be changed. Assume there are no controls in place other than those listed below. The ladder has to be placed in one of the fire escape routes for the room. Hazards Use this box to list all the hazards identified in the activity. The tick box list includes some of the more common hazards that may be encountered when doing your risk assessment. It also provides space to allow you to add your own. In this example we have identified a number of hazards that could be present in this activity. The main ones are concerned with electricity cuts burns working at height working in the dark. These should be written in the hazards section of the form, you will see that we have identified some of the problems associated with those hazards. Those at risk All those exposed to the risk should be listed here. It is important to list everyone who could be harmed as all may influence how you may intend to control the risks. You may decide that you require different controls for others not carrying out those activities. Current Control Measures Use this box to list the...

Words: 782 - Pages: 4

Risk Assessment

...Risk Assessment Approaches 1. Estimate the risk of bringing the project to completion: * On time: little to no risk because the project would be developed and fully operational within the time limit of the contract. * One month early: this would give us more time to develop test and bring the network into full production with ample time to fix minor issues if there are any. * Two months late: there is a risk associates with a reduction to the company overall contract by 4% (2% for each month late). If we cannot get the whole project up in production, then the risk would be the contract is being transferred to another bidder. 2. Estimate the risks of bring the project to completion: * On time, but not with the require security: technically the project is done but there is a security risk that may violate the contract because technically the company did not finish the required services stated in the contract. * One month early with the require security requirement: there is no risk. The company completed the project early with the required services indicated within the contract. Therefore, the client can continue with normal operation much sooner than expected. * Two months late, without the required security requirement: depending on when the company can implement the security requirements is directly correlated with the contract and its guidelines; the contract may be ultimately transfer to a different bidder. 3. The company has met most......

Words: 280 - Pages: 2

Risk Assessment

...McBride Financial Risk Assessment Information Systems Security Risk Management McBride Financial Risk Assessment Overview The purpose of Risk Assessment is to identify potential risks that could impact the operation of the business of McBride Financial Services. This will analyze the approaches to be implemented for omission of avoidable risks and the minimization of the risks that are unavoidable. In this quest, team B has chosen Sioux Falls office of McBride Financial Services, which will involve a risk assessment overview of several different topics. The discussions will be the use of toxic chemicals in the vicinity of business, public transportation facilities that might handle the carriage of dangerous or hazardous substances, any potential targets of criminal activities and potential targets of terrorist activity. Toxic Chemicals Chemicals are a necessary part of any work location. They can be used in work processes, for cleaning, and other functions. Chemicals can be found in solid, dust, liquid, and gas or vapor forms. "Industrial chemicals can be described by the physical form of the chemical (that is, whether it is a dust, fume, vapor, gas, etc.)." (Chemicals in the Workplace) The company needs to identify all the chemicals used at the McBride facility. The individual chemical components should be listed for a safety review. Material Safety and Data Sheets (MSDS) will be obtained and stored onsite for all chemicals used. MSDS is available for all...

Words: 2674 - Pages: 11

Risk Assessment

...Risk Assessment Risk Assessment Holly Regan SCI/275 August 3, 2014 Stacy Murphy Risk Assessment The chosen case study from the text is in relation to human exposure to asbestos and the health risks this chemical compound imposes. According to Shultz (2012), low levels of asbestos exposure, even for short periods of time, can cause lung cancer among asbestos insulation workers with a death rate four times the expected rate. Lung cancer in asbestos workers who smoke is ninety-two times greater than in those who don’t, providing a vivid example of synergism. (The ratio of the number of observed to the number of expected deaths times 100) Asbestos is a combination of minerals that are native to the environment comprised of silicate compounds which are resistant to heat, chemicals, fire and conducts no electricity. There are two major groups of asbestos minerals, serpentine and amphibole. The serpentine group contains Chrysotile, which is the most mined and commercially used in North America since the 1800’s. Asbestos is used in the building and construction industry for insulation and roofing, the shipbuilding industry to insulate steam and hot water pipes, and the automotive industry for brake and clutch pads; among many other categorical uses, (The National Cancer Institute at the National Institutes of Health, 2009). The factors of acceptable risk for the chemical asbestos are 1) acceptable if risk is not greater than those created by...

Words: 453 - Pages: 2

Risk Assessment

... information assets are the focus of the security risk assessment, all other related assets are considered ‘information containers’, storing, processing or transporting the information assets. Information containers can be people (since people access information and gain knowledge), objects (piece of paper) or technology (database). Thus, threats to information assets are analysed by considering where they live and effectively limiting the number and types of assets brought into the process. Some key drivers that led SEI to formulating this new methodology include: Improving ease of use Refining the definition of assessment scope by introducing the container concept Streamlining data collection and threat identification processes Reducing training and knowledge requirements Improving institutionalisation and repeatability Reducing the technology view Phase 1: Establish drivers—The organisation develops risk measurement criteria consistent with organisational drivers. Phase 2: Profile assets—Information assets that are determined to be critical are identified and profiled. This profiling process establishes clear boundaries for the asset; identifies its security requirements; and identifies all of the locations where the asset is stored, transported or processed. Phase 3: Identify threats—Threats to critical information assets are identified in the context of the locations where the asset is stored, transported or processed. Phase 4: Identify and mitigate......

Words: 3691 - Pages: 15

Risk Assessment

...Risk Assessment The city council of Genericville faces a challenging decision that could impact the city both economically and environmentally for years to come. Genericville’s main source of income is from tourism, which is being threatened by the increasing mosquito population and the West Nile Virus. The councilors have been asked to vote on a proposed plan to deal with this increasing threat. On one hand, the decision can be made to spray a potentially harmful chemical on the neighboring wetlands to reduce the threat of the spread of the West Nile Virus; on the other hand, a plan can be enacted that calls for a thorough educating of the Genericville population on how to avoid contact with mosquitoes and reducing their breeding grounds. After performing a risk assessment for human exposure to malathion, the proposed chemical, the risk of not taking action against the mosquito population was much higher than the risk associated with spraying malathion. Based on the information presented by the Agency for Toxic Substances and Disease Registry, malathion has no direct links to be a carcinogen. Malathion is not known to cause birth defects in humans under common use (Agency for Toxic Substances & Disease Registry, 2005). In laboratory tests, the chemical has been proven to cause some minor irritations of the eyes and skin as well as complications with respiratory and gastrointestinal systems. These effects are a result of contact with airborne vapors...

Words: 712 - Pages: 3

Risk Assessment

...Global Finance, Inc. (GFI) is a financial company that runs in several countries including Canada, the US, and Mexico. GFI, majors in financial management, money investments, loan applications approval and wholesale loan processing. The company success has seen it become a public traded company in the NYSE. With over one thousand employees, GFI has experienced rapid growth through a well-defined strategy that made use of technological innovation and automation of their systems. However, as GFI experienced a steady growth in its financial operation, a significant security risk lack within its network. GFI relies on its application servers; the Oracle database and the email system that are the backbone of the GFI financial operations. The financial and cash flow system of the company solely depends on the network, any network breakdown, and system failure would be catastrophic for the business and its clients. The recent multiple cyber attacks on the GFIs network and the 2012 Oracle server attack that left the company integrity, confidentiality and availability venerable for several days. Although the servers were restored, the damage was extensive and lead GFI to pay for clients damages in their loss of data confidentiality. Another attack left the entire GIF network down that lead to losses in revenues and intangible customer confidence to the tunes of over a million US dollars. Risk Assessment Purpose The aim of this risk assessment is to evaluate the details of GFI...

Words: 2661 - Pages: 11

Risk Assessment

...42890 4G Mobile Technologies Research Topic Assessment Task-3 Research Proposal on “Handovers within 4G-LTE Networks (intra e-UTRAN)” Topic Title: Handovers within the 4G-LTE Networks (intra e-UTRAN) Group Members: Md Mazharul Islam (Student No.: 12126429) Samiha Alam (Student No.: 11840877) Archana Kotadia (Student No.: 11944737) List of Deliverables and Dates: Research proposal submission: March 12, 2015 Research draft presentation submission: April 16, 2015 Research topic presentation: May 14, 2015 Approximate Contents of Presentations: * What is Handover?? * Handover in LTE (Characteristics, types & techniques) * e-UTRAN Architecture * Difference between ‘Intra e-UTRAN Handover’ & ‘Inter e-UTRAN Handover’ * Intra-LTE (Intra-MME/SGW) Handover Using the X2 Interface * Intra-LTE (Intra-MME/SGW) Handover Using the S1 Interface * Handover Measurements * Handover Optimization and Design Principles * Handover Parameters * Handover Evaluation Mechanisms * Handover Failures in LTE * Conclusion. References: 1. Han, J., & Wu, B. (2010, October). Handover in the 3GPP long term evolution (LTE) systems. In Mobile Congress (GMC), 2010 Global (pp. 1-6). IEEE. 2. Iñiguez Chavarría, J. B. (2014). LTE Handover performance evaluation based on power budget handover algorithm. 3. Rao, V. S., & Gajula, R. (2010). Interoperability in......

Words: 259 - Pages: 2

Risk Assessment

...Risk Assessment and Mitigation Techniques Any solution will have inherent risk, the key is to identify and explore the consequences of the risks so mitigation can be incorporated into the implementation plan through contingency plans. Lawrence Sports faces several risks in attempting to implement a working capital policy. The first risk is the extension of credit to customers. If Lawrence Sports is too liberal with extending credit they will be faced with the need to borrow money to meet the target cash balance. On the contrary, if Lawrence Sports has a strict credit policy, sales may suffer as a result. The mitigation of this risk is for Lawrence Sports to have a conservative credit policy and consistent implementation with every customer. The second risk is the implementation of the electronic payments. Lawrence Sports can not coerce Mayo Stores, Gartner Products or Murray Leather Works to convert to a new system which Lawrence Sports may implement. In addition, an aggressive attempt to implement the EFT could cause a sever rift in business relations which could cripple the company. To mitigate this risk, Lawrence Sports could communicate early on with customers and vendors about their intention to convert systems and providing explanation of the numerous benefits of implementing an electronic payment system. Lawrence Sports can also offer a higher discount on transactions for a limited period for using the electronic payment process. Cash budgeting may cause shockwaves...

Words: 681 - Pages: 3

Risk Assessment Paper

...Risk Assessment Paper CMGT 579 September 26, 2011 Kyrstal Hall Every organization is faced with some risk or potential threat that could cause an interruption to the organization’s operations. These risks and threats can come from within or outside of the organization. To prepare for the worst that could happen, organizations must focus their attention on how to assess different types of risks to protect the organization from the possible negative effects to the daily operations. Performing a risk assessment is one of the most important steps in the risk management process (eHow, 2011). A Risk Assessment is periodic assessment of the risk and magnitude of the harm that could result from the unauthorized access, use, disclosure, disruption, modification, or destruction of information and information systems that support the operations and assets of the organization. A risk assessment should include a consideration of the major factors in risk management: the value of the system or application, threats, vulnerabilities, and the effectiveness of current or proposed safeguards. Many organizations perform risk assessments to measure the amount of risks that could affect their organization, and identify ways to minimize these risks before a major disaster occurs. Department of Defense Information Systems Agency (DISA) follows guidelines and policies governed by processes by which the organization assesses and manages exposure to risks. In this paper the subject to...

Words: 1263 - Pages: 6

Risk Assessment

...Risk Assessment SCI/275   Malathion is something that is being taken into consideration by the City Council of Genericville it is an insecticide spray that will help to control the West Nile Virus and the further spread of the virus. This is a risk assessment on the use of a spray called Malathion in the city of Genericville. There are several steps that are involved in this first is hazard identification and that is the effects that it will have on the health of the humans who are going to be exposed to the spraying of the Malathion. The second is what is called dose response; this is the amount on spray that would be needed to cause any health effects. The third deals with the exposure to all the humans and also based on the total amount of spray that was used and also how long the exposure to the insecticide will last. The final step is what I would call risk characterization which would be used to help determine that if any or certain humans that live in the city would be prone to any health risks that would associated with the use of Malathion. The result of this assessment is that the city of Genericville should really use the insecticide spray called Malathion to help in reducing the spread of the West Nile Virus. There are many sides to this and they include the social, economic, and the political sides of any arguments that have to be considered with the use of the insecticide spray. The West Nile Virus is a very huge concern in the area and that is...

Words: 1146 - Pages: 5

Risk Assessment

...Risk Assessment In the risk assessment that there were two case studies which are similar however still have their differences in certain ways. The following assessment will identify ways in which the two cases are similar and how they differ. The principle of a risk assessment is to evaluate a scenario and suggest an idea or possible remedy in regards to the scenario involved. In reference to the assessment defined the two individuals are interesting when it comes to their activities and the situation involving the justice system. As this paper presumes it will identify the issues more in-depth and create ideas that may assist in restricting the scenario. Evaluation of Case Study Colleen The first case that will be defined is involving Colleen. The case study identified that she (Colleen) came from a broken family which be an influence when it comes to possible juvenile issues. By the time a juvenile reaches the age of 12 it is a prime point in their young teenage years in which they are in need of strong parenting. It is clear that there are often exceptions to each situation and that in some cases having both parents may not be an option due to unforeseen events. In the scenario involving Colleen, she displayed signs of juvenile delinquency when she admitted to running away from home. She clearly defined that over a course of years and on several occasions she made the choice of running away, and chose to become involved with the wrong crowd. Sarah Brown defines...

Words: 1689 - Pages: 7

Risk Assessment

... as an introductory course before students enter the wards or as an ongoing part of integrated clinical teaching, is not enough to “vaccinate” medical students against the pressures towards irrational prescribing that they will face in their professional career. A first risk period, and probably the one with the strongest influence, is the time of clinical attachments and junior clerkships. After some years of mainly theoretical studies most students are eager to become clinically active and are very sensitive to the role model of their clinical teachers. Unfortunately, irrational prescribing is widely reported from teaching hospitals,3 while clinical teaching of undergraduate students is often insufficiently planned and supervised, 3 Hogerzeil HV. Promoting rational prescribing—an international perspective. British Journal of Clinical Pharmacology 1995;39:1–6. 2 Introduction and usually delegated to junior staff. Any irrational prescribing behaviour in the wards will therefore almost automatically be copied by the juniors. Even on those occasions when the students have the chance to observe the example of clinical professors and consultants, their prescriptions may reflect the treatment of a rare disease or difficult complications and do not necessarily represent the type of patient problems the students are likely to meet in the first years of their professional life. Therefore, pharmacotherapy teaching should not only be problem-based but should also be...

Words: 9416 - Pages: 38

Risk Assessment

...|Risk Assessment Paper | |CJA 374 Juvenile Justice Systems and Processes | |Debbie Johnson | There are a number of similarities and contrasts in the nature of the two case studies that we are about to study. There is a need of the understanding of the situation, evaluation of various factors that would have an effect on the outcome so a risk assessment is generally performed. Thus a basis is formed on the basis of which solution to a problem is to be found.             Colleen is a broken home about whom we will be studying in the first case study. There is a traversal of several hardships and negative effects for a child who is brought up in a broken home especially when they are entrant to the age of a juvenile. There are several physical and mental changes when a child goes through his stage of teens is the possible analyzed reason. There is a transformation from teens to adults and their mentors become there parents who diversify their efforts to the right path. Over the years a constant delinquency has been witnessed through Colleen. The classic delinquent action at this age is running away from home. Poverty, delinquency, passing away of the parents, abusive home, feeblemindedness, and poverty are several reasons why a child may run away from home (Brown, 1992). And when these children make their way out of home they land up mixing up with criminals or people who are shady. So...

Words: 1344 - Pages: 6

Risk Assessment

...Abstract Over the past years, and as a result of high profile firm failures, the economic crisis, and increased regulatory pressure, many organizations have placed a large emphasis on financial risk assessments. The risk assessment process is needed to identify risks that need to be treated within an organization, as well as to provide strategies and methods that are most appropriate to treat these risks. Because many organizations are poorly aligned between their risk exposure and their risk appetite, it is important to engage in the risk assessment procedures. These procedures can help an organization prevent risk exposure and determine if their current operations will result in an increase or decrease of market value and owners’ wealth. As a result of the economic crisis, and the recent increase in corporate failures, organizations can now learn from the mistakes of others. This paper will discuss the mistakes that lead WorldCom, a telecom company that was once the fourth-ranked in Fortune 500, to bankruptcy in 2002, in an effort to demonstrate the importance of successful risk assessment and alignment implementation. Keywords: corporate failure, risk analysis, risk assessment, risk management, WorldCom Over the past years, and as a result of high profile firm failures, the economic crisis, and increased regulatory pressure, many organizations have placed a large emphasis on financial risk assessments. Risk assessment is the process where risk managers...

Words: 4331 - Pages: 18