Risk Assessment Essay Sample

You have merely left a four hr meeting where you described the web enlargement undertaking to your co-workers. You explained the architecture. new endeavor degree firewall. the extra demands for web monitoring and care. the demand for an extra system decision maker. and the hazards of non following with Federal Information Security Management Act ( FISMA ) ordinances for firmly trading with the U. S. Government.

Hazard Appraisal
Before continuing with the enlargement undertaking. direction has asked you to take a squad that will gauge the hazards associated with this undertaking. They want you to supply a high degree sum-up of quantitative and qualitative hazards associated with the undermentioned points: The undertaking execution deadline occurs in 9 months. Each month after the deadline is missed. a punishment of $ 100. 000 is assessed. Three months after the deadline. the contract will be cancelled. Several new web storage. security. and throughput hardware contraptions need to be installed and configured. ( Is at that place room/power/personnel to back up this new hardware? ) Complying with FISMA is a new venture for your organisation. What Risks does this involve?


I want to do this study as easy to understand as possible so What I have done is break everything down into two classs: quantitative and qualitative hazards. Now given these two classs I will specify them so you can break understand why I have put the certain hazards within either class. I will besides explicate why I have chosen these peculiar hazards. Some elaborate information will non be included due to the fact that more information will be required from other sections but I will make my best to make full in with every bit much information as I perchance can.

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Quantitative Hazards
A quantitative hazard is used when associating hazards to the chance of a fiscal loss. So the quantitative hazard that will impact the result of this chance are as followed: The biggest issue is the deadline hazard. The ground I say this is because there is merely 9 months allowed to hold everything up and running. To run into this deadline we have to non merely have all sections kept on the same page and working together. but we besides need to do certain that we keep FISMA aware of what’s traveling on. Now one time those 9 months are up if we are non up and running it will be the company $ 100. 000 for each month. This could be considered a hazard every bit good because if that’s non included in with the fiscal section and we don’t acquire everything done within that 9 months that will hold to come out of our disbursement budget which means less money to pass on equipment. engaging more staff. and the enlargement of the company. If the contract isn’t finalized within a twelvemonth to day of the month the contract will be cancelled.

This will go a large job because this is a one time in a life-time chance that should non be taken lightly. With this chance comes great chances for everyone involved. So to lose this opportunity should non be an option. Another hazard is the fiscal section and the ground for this is because we can’t do any concluding determinations without cognizing what our budget looks like. We want to do the company money non cost the company money. So it is really critical that the CFO maintains a take parting factor in this undertaking. FISMA is besides a serious hazard because they have to be able to supply all the information from their terminal to assist us acquire up to criterions for them and how much it’s traveling to be us. Everything within this subdivision is so important because this portion has to be viewed by the CFO to do certain everything is within the budget. before subjecting into a concluding bill of exchange. Then being turned into the CEO of the company.

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Qualitative Hazards

The definition of a qualitative hazards is an observation than can’t be measured in Numberss such as a pass/fail. go/no-go technique. When delegating hazards to this class we have to see the fact of what do we necessitate and make we hold anywhere to set it? This is where we are traveling to get down. We know that with this large contract. we don’t presently have the infinite. the power. or the forces to draw this off. So these issues become large hazards that we must measure in order to do this work. Now since we know this. we have to calculate out how much more infinite. power and forces will be needed to be able to seal the trade.