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PO9.2 - Establishment of Risk Context

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 PO9.2 - Establishment of Risk Context is contained within Process Popup Assess and Manage IT Risks.

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Establishment of Risk Context

Establish the context in which the risk assessment framework is applied to ensure appropriate outcomes. This should include determining the internal and external context of each risk assessment, the goal of the assessment, and the criteria against which risks are evaluated.

View value and Risk Drivers  help

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Value Drivers

  • Effective and efficient use of resources for management of risks
  • Alignment of risk management priorities to business needs
  • A focus on relevant and significant risks
  • Prioritisation of risks
  Risk Drivers
  • Irrelevant risks considered important
  • Significant risks not given appropriate attention
  • Inappropriate approach to risk assessment

View Control Practices  help

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  1. Evaluate risks qualitatively according to their impact (catastrophic, critical, marginal), probability (very likely, probable, improbable) and time frame (imminent, near term, far term), or quantitatively, when appropriate probability data exist.
  2. Prioritise risks by separating the ‘vital few’ from the rest and ranking them based upon a criterion or criteria established by the project team. Techniques for prioritisation include comparison risk ranking, multivoting, and paring to the top ‘n’ and top five.
  3. Perform risk assessment activities considering the context of the IT management processes that are affected.

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Documents & Publications: 179 total

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Events & Online Learning: 18 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 2, 2018
by Ofir Eitan, CISM, CCSK, CTI
In the wake of the Target breach, the threat of cyberattacks using an enterprise’s supply chain as a delivery vector has become a common concern within the information security community.
Volume 2, 2018
by Ron Davidson
The threat landscape has changed significantly for operational technology (OT) environments as their connectivity to IT networks and the Internet has exponentially increased.

Wikis: 2 total

Blog Posts: 268 total

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