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PO9.1 - IT Risk Management Framework

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective PO9.1 - IT Risk Management Framework is contained within Process Popup Assess and Manage IT Risks.

Learn more about COBIT and related publications.

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IT Risk Management Framework

Establish an IT risk management framework that is aligned to the organisation’s (enterprise’s) risk management framework.

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Value Drivers

  • Consistent approach for IT risk management
  • Effective management of IT risks
  • Continuous evaluation of current IT risks and threats to the organisation
  • Broadened IT risk management approach
  Risk Drivers
  • IT risks and business risks managed independently
  • The impact of an IT risk on the business undetected
  • Lack of cost control for risk management
  • Each risk seen as a single threat rather than in an overall context
  • Ineffective support for risk assessment by senior management

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  1. Make sure the IT risk management framework fits with the risk management objectives of the enterprise. Use similar risk classification principles and, wherever possible, classify and manage IT risks in a business-driven hierarchy, for example:
    • Strategic
    • Programme
    • Project
    • Operational
  2. Define standard scales for IT risk assessment, covering impact and probability aligned with the enterprise risk management framework.
  3. Align the IT risk management appetite and tolerance levels with the enterprise risk management framework.

Discussions: 1 total

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Dears,Could you please advise if there are any applications\toolkit in the market for IT risk assessment process and contains self-assessment questionnaire, database of common risks, risk calculation .. etc that being in compliance with Cobit 5?
Tamer | 5/20/2018 6:26:43 AM | COMMENTS(0)

Documents & Publications: 195 total

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Downloads
Posted by FarmService 1531 days ago
Downloads
Posted by ISACA 1541 days ago
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Posted by FarmService 2616 days ago
Books
Posted by ISACA 151 days ago
Books
Posted by ISACA 620 days ago

Events & Online Learning: 20 total

16 Mar 2015
ISACA International Event
Orlando, FL, USA
15 Jun 2015
ISACA International Event
Ciudad de México, Mexico
14 Mar 2016
ISACA International Event
Miami, FL, USA
1 Aug 2016
ISACA International Event
Chicago, IL, USA

Journal Articles: 500 total

Volume 6, 2015
by Ed Gelbstein, Ph.D.
An auditor will sooner or later be faced with two kinds of conflicts: conflict of interest and interpersonal conflict.
Volume 5, 2107
by Marianne Bradford, Ph.D., and Dave Henderson, Ph.D.
Although generalized audit software (GAS) has been shown to significantly improve the efficiency and effectiveness of audits, many auditors do not use this technology.
Volume 3, 2107
by Jayakumar Sundaram, CISA, ISO 27001 LA
The SoA is a continuously updated and controlled document that provides an overview of information security implementation.
Volume 6, 2106
by Venkatasubramanian Ramakrishnan, CISM, CRISC, CHFI
Bayesian networks can capture the complex interdependencies among risk factors and can effectively combine data with expert judgment.
Volume 3, 2018
by Giuliano Pozza, CGEIT, e-CF Plus (CIO), ITIL v3
The world of information and data management is changing faster than anyone could have predicted a few years ago, and attention to sensitive data protection is growing, as the new GDPR is clearly proving.
Volume 3, 2018
by Lucio Augusto Molina Focazzio, CISA, CRISC, CISM, COBIT Assessor and Trainer, ITIL
Building Tomorrow’s Leaders, Today

Wikis: 2 total

Blog Posts: 277 total

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