CMap: Relationship Between Security Management and Risk Management
CMap: Relationship Between Security Management and Risk Management
This CMap aims to explore and connect the concepts related to Security Management and Risk Management using insights from Module 2 and 3.
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Relationship between Security Management & Risk Management
Security Management
Security Management involves the identification of an organization's assets (including information assets), followed by the development, documentation, and implementation of policies and procedures for protecting these assets.
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Information Security
This refers to practices and procedures designed to protect and secure information from unauthorized access, alterations, destruction, or disruption.
Physical Security
This involves securing the physical assets such as buildings, servers, systems and people against threats like theft, vandalism, natural disasters, etc.
Cybersecurity
It involves protecting information systems from theft or damage to the hardware, the software, and to the information on them.
Risk Management
Risk Management is the process of identifying, assessing, and controlling threats to an organization's capital and earnings.
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Risk Assessment
Risk assessment involves determining the possible threats, their potential impact and the probability of their occurrence.
Risk Mitigation
Risk mitigation involves implementing measures to reduce the impact of a risk and its potential causes.
Risk Monitoring
It involves continuously monitoring and reviewing the risk environment to detect any changes in context or risk factors that may impact the risk profile.
Relationship between Security Management & Risk Management
The relationship between the two are intertwined where risk management helps prioritize resources, and security management applies those resources to minimize potential risk impacts.
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Security Audits for Risk Assessment
Risk-Driven Security
Security measures and protocols are often designed and implemented on the basis of the identified and assessed risks.
Security as Risk Mitigation
The implementation of security measures serves as a form of risk mitigation, decreasing the probability or impact of potential threats.
Security Audits for Risk Assessment
Regular security audits can play a crucial role in the risk assessment process by discovering vulnerabilities and threats.
Security and Risk Management
This mindmap helps understand the relationship between Security Management and Risk Management, interlinking concepts and materials from both Module 2 (Security Management) and Module 3 (Risk Management).
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Interrelation between Security Management and Risk Management
Security Management
Security Management involves identifying an organization's assets, developing, documenting, and implementing policies and procedures for protecting these assets.
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Asset Identification
Asset identification is the process of finding out what types of assets a company has, where they are located, and what they are worth.
Policy Development
Policy development for security management involves creating rules and guidelines to help protect the organization's assets.
Procedure Implementation
Procedure Implementation involves the actions, tasks or operations designed and implemented to carry out the policies, ensuring safety and protection of assets.
Risk Management
Risk Management is a process of identifying, assessing and controlling risks that could potentially affect an organization's operations and objectives.
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Risk Identification
This involves determining what could possibly cause an unexpected outcome or loss for the organization.
Risk Assessment
Risk assessment is a process of analyzing the potential risks that may prevent the organization from reaching its objectives.
Risk Control
Risk control involves taking steps to minimize the probability of the risk becoming a reality.
Interrelation between Security Management and Risk Management
Understanding the relationship between security and risk management practices is imperative in maintaining organizational consistency and balance.
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Risk Management in Security Decisions
Security Policies in Risk mitigation
Constant Monitoring and Maintenance
Risk Management in Security Decisions
Formulating security decisions based on risk assessment helps in allocating resources wisely, reducing the likelihood of security disruptions.
Security Policies in Risk mitigation
Creating sound security policies play a key role in mitigating risks, achieving greater protection of valuable assets.
Constant Monitoring and Maintenance
Regular and high-intensity monitoring both in terms of security and risk is crucial to ensure organizational safety.
Creating a CMap: Connecting Security Management and Risk Management
Introduction
The Task
The goal of this project is to create a comprehensive CMap that incorporates the knowledge from Module 2 and 3, intertwining the concepts of Security Management and Risk Management into a single, coherent visual representation.
Concept Mapping
Concept mapping is a graphical tool that aids in organising and representing knowledge. It includes concepts, usually encapsulated in circles or boxes, and relationships between concepts indicated by a connecting line linking two concepts.
Security Management
Understanding Security Management
Security Management is a field that focuses on the safeguarding of an organization's information assets. It deals with the implementation of measures to protect an organization's data and systems.
This degree of protection can be achieved by identifying potential security threats, taking necessary precautions, establishing protocols for possible security breaches, and continuously monitoring and improving security processes.
We'll visualize these concepts and their interactions on the CMap, showing how this understanding feeds into Risk Management.
Risk Management
Risk Management is the process by which organizations identify, assess and treat risks that could potentially affect their business operations. In the context of information security, these risks are typically related to cyber threats and data breaches.
Interconnection of Security and Risk Management
The relationship between Security Management and Risk Management is crucial for a comprehensive risk mitigation strategy. Effective Security Management directly contributes to competent Risk Management by reducing vulnerabilities, thereby reducing risk.
Through strong Security Management techniques, an organization can anticipate and neutralize security threats, leading to the general reduction of risks and the protection of crucial information and data.
On your CMap, these two areas would be closely linked, with arrows indicating the communication and influence between them.
Conclusion
Final Reminder
Ensure to connect all the concepts in one single CMap, demonstrating the crucial correlation between Security Management and Risk Management. Avoid creating separate CMaps or PBworks pages. Your final CMap should provide a detailed and visually appealing summary of both modules.
CMap for Security and Risk Management
This CMap aims to synthesize concepts and materials from Module 2 and 3, with a particular focus on the relationship between Security Management and Risk Management. The materials refer to 'Security and Risk Management' by Deane & Kraus (2021) and 'Cyberthreat-Intelligence (CTI) capability' by Shin & Lowry (2020).
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Relationship between Security Management and Risk Management
Security Management
Based on the materials from Deane & Kraus (2021), security management revolves around the proactive discovery and mitigation of risks to information assets. This node is divided into three key sub-nodes, each representing a vital aspect of Security Management.
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Identification of Security Threats
Implementation of Security Policies
Identification of Security Threats
Security managers identify potential threats to information assets. Emphasis is placed on proactivity rather than reactivity, ensuring threats are neutralized before any damage.
Implementation of Security Policies
Security policies are developed to prevent or mitigate the impact of security issues. They include rules and regulations, compliance procedures, and more.
Supervision of Security Plans
This concentration deals with the implementation and monitoring of security plans, including managing technical staff, liaising with stakeholders, and regular audit and assessment.
Risk Management
Referencing Deane & Kraus (2021) and Shin & Lowry (2020), risk management focuses on the identification, analysis, and mitigation of risks. This node consists of three sub-nodes to outline this process.
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Risk Identification
Involves finding potential risks to the software development process and information system as a whole. Techniques could include brainstorming, historical data analysis, and root cause identification.
Risk Analysis
Analyzing identified risks include assessing their potential impact and frequency. This allows for a prioritized list of risks based on possible harm to the system.
Risk Mitigation
This sub-node focuses on developing ways to minimize the impact of risks on an information system which may include risk avoidance, risk transfer, or implementing contingency plans.
Relationship between Security Management and Risk Management
Finally, the integral connection between Security Management and Risk Management is discussed in this node. Both play different roles but work symbiotically towards the common goal: information security.
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Risk-Based Security Management
Symbiotic Risk and Security Cycle
Interconnection of Concepts
Risk Management is considered a subsection of Security Management. While Risk Management identifies, analyzes, and mitigates risks, Security Management uses this information to strategize, implement, and monitor security measures.
Risk-Based Security Management
The concept of risk-based security management, where security measures are implemented based on the identified and analyzed risks, perfectly encapsulates the relationship between these two concepts.
Symbiotic Risk and Security Cycle
The relationship between Security Management and Risk Management is often depicted as a cycle - risk identification and analysis inform security measures which, once implemented, must be monitored and adjusted based on ongoing risk analysis.
Security Management and Risk Management
This CMap bridges concepts from both Security Management and Risk Management, shedding light on how they intersect. These concepts have been derived from Module 2 and 3, and are informed by readings mentioned.
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Relationship between Security Management and Risk Management
Security Management
The process of protecting an organization’s information by mitigating security risks and implementing strategies as mentioned in Domain 1: Security and Risk Management.
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Security Policies
Guidelines that govern the approach of an organization towards its security.
Access Control
A strategy to restrict unauthorized individuals from accessing information.
Security Planning
The process of establishing plans to protect an organization's information and infrastructure.
Employee Training
Ensuring employees understand security procedures and the significance of safeguarding information.
Risk Management
As per readings in Domain 1: Security and Risk Management, and Domain 8: Software Development Security (Risk Analysis and Mitigation), it involves understanding, analyzing, and mitigating risks.
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Risk Identification
The process of identifying potential risks that could negatively impact an organization's ability to conduct business.
Sure, let's discuss each step in a bit more detail:
Risk Identification: This is the first step of risk management where potential threats/vulnerabilities that could negatively affect the organization are identified. These could include anything from security breaches, data loss, system failures, to enforced regulatory standards, breakdowns in procedures and many more.
Risk Analysis: After the risks have been identified, the next step is to understand their implications. This involves determining the likelihood of the risk occurring and the impact it would have on the organization. The organization would typically use qualitative or quantitative risk analysis methods. This helps to prioritize the risks and understand which are critical and need immediate attention.
Risk Mitigation: This stage involves finding ways to lessen the impact of the identified risks. This can be done through various strategies such as risk avoidance, risk reduction, risk sharing and risk retention. The aim of this step is to create a plan to protect the organization's assets and minimize damage.
Risk Monitoring: Finally, risk monitoring involves ongoing tracking and reviewing of the risks. This is important as risks can change over time, new risks may arise and others may be no longer relevant. It's important to regularly update the risk management strategies in light of these changes.
So in conclusion, risk management is a standard procedure that allows an organization to properly protect its assets, people, revenue, and reputation from any potential harm.
Risk Analysis
Process to understand the nature of risk and its potential impact.
Risk Mitigation
Taking steps to reduce the adverse effects of potential risks.
Risk Monitoring
Continual tracking and evaluating of the risk to ensure mitigation strategies are effective.
Relationship between Security Management and Risk Management
It is crucial to understand the interplay between both these domains for effective security.
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Risk Management drives Security Strategy
Risk Monitoring informs Security Management
Security Policies shaped by Risk Analysis
Risk Management drives Security Strategy
The identification, analysis, and mitigation of risks guide the formation of security strategies.
Security Policies shaped by Risk Analysis
Understanding potential vulnerabilities and threats informs the creation of robust security policies.
Risk Monitoring informs Security Management
Continual risk assessment allows for dynamic security management, ensuring necessary adjustments are made in response to new or evolving risks.
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