Review

1. What is risk management?

Risk management is the process of discovering and assessing the risks to an
organization's operations and determining how those risks can be controlled or
mitigated.

4. According to Sun Tzu, what two things must be achieved to adequately

secure information system assets successfully?
To reduce risk in an organization, the organization must know itself and know its
enemy.

5. Who is responsible for risk managment in an organization?

10. What value would an automated asset inventory system have for the risk
identification process?
https://www.coursehero.com/file/p3m7pj2/Answer-The-resources-usedwhen-undertaking-information-asset-risk-management-is/
11. Which information attributes are seldom or never applied to software
elements?
https://www.coursehero.com/file/p3m7pj2/Answer-The-resources-used-whenundertaking-information-asset-risk-management-is/
12. Which information attribute is often of great value for networking equipment when
DHCP is not used?
14. Which is more important to the information asset classification scheme, that it be
comprehensive or that it be mutually exclusive?
16. How many categories should a data classification scheme include? Why?
18. What are vulnerabilities?

Exercises
1. If an organization has three information assets to evaluate for risk management as
shown in the accompanying data, which vulnerability should be evaluated for
additional controls first? Which one should be evaluated last?
Asset A:
Switch L47 connects a network to the Internet. It has two vulnerabilities. It is susceptible
to hardware failure at a likelihood of 0.2 and is subject to an SNMP buffer overflow

attack at a likelihood of 0.1. The switch has an impact rating of 90 and no current controls
in place. You are 75% certain of the assumptions and data.
Asset B:
Sever WebSrv6 hosts a company Web site and performs e-commerce transactions. It has a
Web server version that can be attacked by sending it invalid Unicode values. The
likelihood of that attack is estimated at 0.1. The server has been assigned an impact value
of 100, and a control has been implanted that reduces the impact of the vulnerability by
75%. You are 80% certain of the assumptions and data.
Asset C:
Operators use an MGMT45 control console to monitor operations in the server room. It
has no passwords and is susceptible to unlogged misuse by the operators. Estimates show
the likelihood of misuse is 0.1. There are no controls in place on this asset; it has an
impact rating of 5. You are 90% certain of the assumptions and data.

Closing Case:
1. What will Iris have on her to-do-list?
Plan and organize processes, create system component categories, develop inventory of
assets, identify threats, specify vulnerable assets, assign value or implact rating to assets,
assess likelihood for vulnerabilities, calculate relative risk factor for assets, preliminary
review of possible controls, and document findings.
2. What resources can Iris call on to assist her?
The management and users could be resourceful. There are also alot of Web sites
available with information to help organize, categorize, and prioritize all the assets.