Risk management methodology and its application in IT security

Before discussion about the risk management in the organization the main point is to understand what important risks that are related to information technology? The risk due to cyber security, the risk related to DoS and also loss of important data in the organization.

The risk management methodology is extremely important for the organization to manage their risk in efficient way. For that case the retail organization must have to organize proper risk management methodology in their organization. In the open step for defining the methodology of managing the risk is to define the different risk management processes.

The retail organization must have to classify their risks according to risk impact factors. Then they have to identify different risks that are present on the target states or gap analysis. Also have to develop risk management assessment. The organization also have to monitor the different risks while managing it because through this they can easily able to apply changes in organization.

Then the most important part in the risk management methodology is to analyze the risk in proper way. This can be done through defining the scope. For that case the retail organization wanted to minimize the information security risks in their system. Then after this they have to identify different processes related to this risk. The retail organization also have to identify different important threats and vulnerabilities. Then in the last they have to apply different risk management techniques. Through this methodology the retail organization is able to overcome their risk properly.

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