Imagine that a software development company has just appointed you to lead a risk assessment project. The Chief Information Officer (CIO) of the organization has seen reports of malicious activity on the rise and has become extremely concerned with the protection of the intellectual property and highly sensitive data maintained by your organization. The CIO has asked you to prepare a short document before your team begins working. She would like for you to provide an overview of what the term “risk appetite” means and a suggested process for determining the risk appetite for the company. Also, she would like for you to provide some information about the method(s) you intend to use in performing a risk assessment.
- Analyze the term “risk appetite”. Then, suggest at least one (1) practical example in which it applies.
- Recommend the key method(s) for determining the risk appetite of the company.
- Describe the process of performing a risk assessment.
- Elaborate on the approach you will use when performing the risk assessment.
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