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PO9.4 - Risk Assessment

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 PO9.4 - Risk Assessment is contained within Process Popup Assess and Manage IT Risks.

Learn more about COBIT and related publications.

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Risk Assessment

Assess on a recurrent basis the likelihood and impact of all identified risks, using qualitative and quantitative methods. The likelihood and impact associated with inherent and residual risk should be determined individually, by category and on a portfolio basis.

View value and Risk Drivers  help

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Value Drivers

  • Improved planning and use of IT risk management skills and resources
  • Organisational credibility of IT risk assessment function teams
  • Knowledge transfer between risk managers
  • Creation of IT asset value awareness
  Risk Drivers
  • Irrelevant risks considered important
  • Each risk seen as a single event rather than in an overall context
  • Inability to explain significant risks to management
  • Significant risks possibly missed
  • Loss of IT assets
  • Confidentiality or integrity breach of IT assets

View Control Practices  help

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  1. Determine the likelihood of identified risks qualitatively (e.g., very likely, probable, improbable) or quantitatively using statistical analysis and probability determinations, based on reasonable sources of information that can be appropriately validated.
  2. Determine the material impact on the business of identified risks qualitatively (e.g., catastrophic, critical, marginal) or quantitatively (e.g., impact on revenue or shareholder value).
  3. Assess risks inherent in the event and after considering the controls that are in place to identify the residual risks for which a risk response will need to be determined.
  4. Document the results of the risk assessment, showing the method followed to come to the conclusions.

 

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7 May 2012
ISACA International Event
Orlando, Florida, USA
Get the knowledge you need to stay one step ahead of the competition and keep up with changing professional trends at ISACA’s North America CACS Conference.
14 May 2012
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Chicago, IL, USA
15 May 2012
ISACA International Event
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4 Jun 2012
ISACA International Event
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12 Jun 2012
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ISACA Training is a unique educational event designed to provide the tools you need to maintain, update and upgrade your skills, and to continue your professional development.

Journal Articles: 444 total

Volume 3, 2012
by Vasant Raval, CISA, DBA
A cohesive effort on all fronts by the community of organizations could lead to best practices, benchmarks and even accreditation standards in the arena of information ethics.
Volume 3, 2012
by Steven J. Ross, CISA, CISSP, MBCP
To accelerate investments in security, we security professionals must do a better job of communicating the reality of the threats that our organizations face.
Volume 3, 2012
by Robert Findlay, CISA
Robert Findlay has had a 30-year career in a variety of IT roles, including computer operations, programming, project management, IT audit and emergency project management.
Volume 3, 2012
by Fabrizio Baiardi, Claudio Telmon, CISA, CISSP, and Daniele Sgandurra, Ph.D.
Haruspex is a risk evaluation methodology defined and implemented by the research group on risk management in the Department of Computer Science at the University of Pisa, Italy.
Volume 2, 2012
by Carl A. Foerster
This article discusses recently conducted research that examined the factors considered in the decision to apply access controls to segregate information within an organization.
Volume 2, 2012
by Steven J. Ross, CISA, CISSP, MBCP
The Conference Board study addresses the resilience of companies “to bounce back from a disruption” caused by security events, which are defined rather loosely as environmental disasters, terrorism and cyberattacks.

Wikis: 2 total

Blog Posts: 111 total

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