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PO9.6 - Maintenance and Monitoring of a Risk Action Plan

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 PO9.6 - Maintenance and Monitoring of a Risk Action Plan is contained within Process Popup Assess and Manage IT Risks.

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Maintenance and Monitoring of a Risk Action Plan

Prioritise and plan the control activities at all levels to implement the risk responses identified as necessary, including identification of costs, benefits and responsibility for execution. Obtain approval for recommended actions and acceptance of any residual risks, and ensure that committed actions are owned by the affected process owner(s). Monitor execution of the plans, and report on any deviations to senior management.

View value and Risk Drivers  help

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Value Drivers

  • Effective management of risks
  • Continuous evaluation of current risks and threats for the organisation
  Risk Drivers
  • Risk mitigation controls that do not operate as intended
  • Compensating controls that deviate from the identified risks

View Control Practices  help

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  1. Develop the risk action plan containing prioritised risk responses. Identify priorities, responsibilities, schedules, expected outcome of risk mitigation, costs, benefits, performance measures and the review process to be established.
  2. Obtain approval for recommended risk response actions from appropriate authorities. Define and document ownership for approved plan activities, and inform affected parties.
  3. Ensure that accepted risks are formally recognised, approved by senior management and recorded.
  4. Monitor execution of the action plan, report progress and deviations to senior management, and adjust the plan accordingly.
  5. Periodically review the action plan:
    • To ensure that it continues to efficiently and effectively address the IT risks identified
    • In light of any changes to business objectives or relevant IT systems
    • To identify improvement opportunities to the risk assessment and management process

 

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Aimed at both the novice and expert in IT security and industrial control systems (ICS), this book will help readers gain a better understanding of protecting ICSs from electronic threats.
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Events & Online Learning: 3 total

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.
10 Sep 2012
ISACA International Event
Munich, Germany
EuroCACS/ISRM is a multidimensional event featuring audit, security, governance and risk content, and the audit and security programs, tools and the resources you need to be responsive to industry changes.

Journal Articles: 182 total

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 John P. Pironti, CISA, CISM, CGEIT, CRISC, CISSP, ISSAP, ISSMP
Risk and security will no longer be something that the organization consciously considers and instead will become integrated in business-as-usual activities.
Volume 2, 2012
by Kerry A. Anderson, CISA, CISM, CRISC, CGEIT, CISSP, ISSMP, ISSAP, CSSLP, CFE
The closer alignment between RIM and information security may provide an approach to managing increasing data protection concerns and tough privacy regulations rather than maintaining the separation between these critical compliance functions.
Volume 2, 2012
by Gan Subramaniam, CISA, CISM, CCNA, CCSA, CIA, CISSP, ISO 27001 LA, SSCP
What should be the recovery strategy that I must impose on the vendor to ensure an effective recovery of the services, if a crisis were to ever occur?
Volume 2, 2012
by Charles Gold
While open-source technology offers significant benefits, using open-source components carries technical and business risks that cannot be ignored.

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