Part Two: Assessing Risk
This module of CISM Foundations covers risk appetite, risk tolerance, and capacity. We'll look at a range of vital risk management factors and how they affect businesses. We'll also cover the concept that the assets, vulnerabilities, threats, and time form a four-dimensional space that we must apply to our risk management practices and security countermeasures. We round off the lesson by looking at the trade off between the cost of risk mitigation and the value of the assets being protected, to help you calculate how much protection is financially viable for a given asset.
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Learning Objectives
- Understand how risk tolerance can vary from organization to organization
- Learn about the CIA Triad
- Learn about knowledge, awareness, urgency, and importance and how they impact risk management
- Learn how the asset, vulnerability, threat, and time form a four-dimensional space that can be used to decide upon risk management practices and countermeasures
- Understand how to weigh up the costs of managing risk vs the value of the asset being protected
Intended Audience
This lesson is intended for those looking to take the CISM (Certified Information Security Manager) exam or anyone who wants to improve their understanding of information security.
Prerequisites
Any experience relating to information security would be advantageous, but not essential. All topics discussed are thoroughly explained and presented in a way allowing the information to be absorbed by everyone, regardless of experience within the security field.
Mr. Leo has been in Information System for 38 years, and an Information Security professional for over 36 years. He has worked internationally as a Systems Analyst/Engineer, and as a Security and Privacy Consultant. His past employers include IBM, St. Luke’s Episcopal Hospital, Computer Sciences Corporation, and Rockwell International. A NASA contractor for 22 years, from 1998 to 2002 he was Director of Security Engineering and Chief Security Architect for Mission Control at the Johnson Space Center. From 2002 to 2006 Mr. Leo was the Director of Information Systems, and Chief Information Security Officer for the Managed Care Division of the University of Texas Medical Branch in Galveston, Texas.
Upon attaining his CISSP license in 1997, Mr. Leo joined ISC2 (a professional role) as Chairman of the Curriculum Development Committee, and served in this role until 2004. During this time, he formulated and directed the effort that produced what became and remains the standard curriculum used to train CISSP candidates worldwide. He has maintained his professional standards as a professional educator and has since trained and certified nearly 8500 CISSP candidates since 1998, and nearly 2500 in HIPAA compliance certification since 2004. Mr. leo is an ISC2 Certified Instructor.