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PO9.5 - Risk Response

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 PO9.5 - Risk Response is contained within Process Popup Assess and Manage IT Risks.

Learn more about COBIT and related publications.

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Risk Response

Develop and maintain a risk response process designed to ensure that cost-effective controls mitigate exposure to risks on a continuing basis. The risk response process should identify risk strategies such as avoidance, reduction, sharing or acceptance; determine associated responsibilities; and consider risk tolerance levels.

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Value Drivers

  • Effective management of risks
  • Consistent approach for risk mitigation
  • Cost-effective risk response
  Risk Drivers
  • Risk responses not effective
  • Unidentified residual business risks
  • Ineffective use of resources to respond to risks
  • Overreliance on existing poor controls

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  1. Consider the results of the risk assessment and determine a strategy for mitigating the risks, considering the significance of the risk and the probable cost and benefit of one of more of the options—avoidance, reduction, sharing and acceptance—that aligns with strategic objectives and is in keeping with the enterprise’s accepted risk management culture and risk tolerances.
  2. Develop a risk action plan to implement the agreed-upon risk response based on a consideration of:
    • Priorities
    • Existing controls that could be improved or modified
    • Practical implementation considerations
    • Any specific legal, regulatory or contractual requirements
    • Probable costs
    • Potential benefits

 

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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.

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Blog Posts: 111 total

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