RISK LAB REPORT
Risk lab report
RISK LAB REPORT
What is an IT risk assessment’s goal or objective?
The IT risk assessment objective is to help firms to identify risks and their impact on the
seven domains. After risk assessment is conducted, it becomes easy for the management to
make decisions on the remedial solutions to undertake and the areas they need to prioritize.
Additionally, it assists in developing control measures in instances where they are necessary.
This helps in creating a better and conducive workplace.
Why is it difficult to conduct a quantitative risk assessment for an IT infrastructure?
It is difficult to conduct a quantitative risk assessment for an IT infrastructure because of the
lack of adequate and accurate data, which can help the experts in the decision-making
process. Also, it is challenging in developing standards and adhering to those that are being
used at the same time.
What was your rationale in assigning a “1” risk impact/risk factor value of “Critical” to
an identified risk, threat, or vulnerability?
The reasoning behind the assigning of the risk factor is to provide a clear picture of their
impact on various domains and the impact they can have. Thus, helping in developing the
measures to be undertaken and prioritizing domains appropriately.
. After you had assigned the “1,” “2,” and “3” risk impact/risk factor values to the identified
risks, threats, and vulnerabilities, how did you prioritize the “1,” “2,” and “3” risk elements?
What would you say to executive management about your final recommended prioritization?
The prioritization of the elements was done based on the threats, risks, and vulnerabilities to
the domains. There...
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