Why is a risk assessment valuable for an organization?

Why is a risk assessment valuable for an organization?

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Why is a risk assessment valuable for an organization?

1. Why is a risk assessment valuable for an organization?
2. Helps protect assets
4. Helps plan employee vacation timing
6. Identifies future capital investments
8. Helps protect management
10. Which of the following is not a component of the risk assessment process?
12. Risk identification
14. Risk likelihood
16. Risk elimination
18. Risk prioritization
20. Which of the following is a type of risk assessment?
22. Monitoring
24. Quantity
26. Processing
28. Qualitative
30. What type of risk assessment uses monetary values to assess a risk?
32. Quantitative
34. Qualitative
36. Ongoing
38. Subjective
40. What type of risk assessment uses terms such as ALE, SLE, and ARO?
42. Delphi
44. Risk Matrix
46. Quantitative
48. Qualitative
50. You are analyzing a risk and have determined that the SLE is $1,500 and the ARO is 5. What is the ALE?
52. Unable to determine with information given
54. $300
56. $7,500
58. $90,000
60. A company issues laptop computers to 100 employees. The value of each laptop including hardware, software, and data is $1,000. On average, employees lose one laptop a month. What is the SLE?
62. 12
64. 100
66. $1,000
68. $12,000
70. A company issues laptop computers to 100 employees. The value of each laptop including hardware, software, and data is $1,000. On average, employees lose one laptop a month. What is the ARO?
72. 12
74. 100
76. $1,000
78. $12,000
80. A company issues laptop computers to 100 employees. The value of each laptop including hardware, software, and data is $1,000. On average, employees lose one laptop a month. Management determines that it can
81. purchase hardware locks for a total of $1,000 and reduce the number of lost laptops to one per year. Should they purchase the locks?
83. Yes, because the savings is greater than the cost of the control.
85. Yes, because the cost of the control is greater than the savings.
86. No, because the savings is greater than the cost of the control.
87. No, because the cost of the control is greater than the savings.
88. Senior management has recently reviewed an RA but chose not to accept any of the recommendations. What risk management strategy are they using?
89. Risk mitigation
90. Profitability
91. Survivability
92. Risk acceptance

Scenario:

In order to help make better decisions regarding risk assessment data, senior management at YieldMore has requested quantitative information relating to key information technology (IT) assets.

Tasks:

You, as an employee of YieldMore, have been given a task of providing quantitative risk assessment information to senior management.

1. Estimate the value of at least five key IT assets in the organization.
2. Be sure you consider direct and indirect financial and business impact of the IT assets.
3. Calculate the single loss expectancy (SLE) of the IT assets. (For this exercise, you will need to estimate this value.)
4. Calculate the annual rate of occurrence (ARO) for risk associated with the IT assets. (For this exercise, you will need to estimate this value.)
5. Calculate the annual loss expectancy (ALE) of the IT assets.

 

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Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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