Why Do a Risk Analysis? Article Review

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Security and Risk Analysis

The job of an information security officer is not confined simply to the realm of digital data protection, as the rigorous demands of modern global commerce require an information security plan which is specifically designed to prioritize a firm's operational functionality. While constructing control mechanisms that entirely eliminate systemic risks may be an information security officer's notion of time well spent, managers and executives expect their firm's information security policies to enhance productivity rather than impose restrictive barriers to doing business. One of the most important aspects of risk management and data protection is the concept of risk analysis, which is the process of assessing "the business risks of an application, system, or other asset to determine the most prudent method of operation" (Peltier, Peltier and Blackley, 2005).

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The vast majority of risk management experts within the information security field share the fundamental belief that "by conducting a business-oriented risk analysis, an organization can determine what needs to be included within its information security policy" (Layton, 2007), and conducting a thorough risk analysis is now essential to the overall objection of securing a firm's invaluable data.

Managers are expected to run a series of regular risk analyses because the operational structure of their firm is continually adapting to external market conditions, while the application of various technological tools is constantly being updated to assure optimal efficiency. It has been observed that "the risk analysis process has two key objectives:….....

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