Peer Response on Risk Management
The topic Risk Management by Kurtis addresses the concept of risk management in an organization and its application in the Navy information system within his working scope. Kurtis takes a crucial perspective of analyzing the various methodologies of identifying, assessing, and regulating the common risks or threats to an organization using the risk management strategy. Further, he gives a classification of risks relevant to the organization and how to mitigate them, which gets highly overlooked.
Among many mitigation strategies, Kurtis introduces the risk management framework that encompasses robust hardware, software, and system security. I agree with Kurtis that risk management is learning from past experiences of risk and taking the necessary strategy to mitigate them. However, individuals and organizations may also anticipate threats from new sites not only from the known causative factors. Furthermore, risk mitigation does not only aim at lowering the cost in case of threat occurrence but also total prevention or the risks or bearing the total cost of the dangers (Rouse, 2020).
The risk management process gets reduced to even safeguarding the information systems for an organization. What stands out to me is that the whole criteria of risk management entirely depend on the organizational needs and willingness to secure their information system before the occurrence of threats. Kurtis concludes by affirming that risk management plays a vital role in establishing an information system that is tolerant of system threats. Through risk identification and management strategy, that guarantees the full achievement of mitigation goals and high tolerance. Even though Kurtis does not issue a conclusive comment, it’s clear to me that risk management is diverse and organizational dependent.
Reference
Rouse, M. (2020). What is Risk Management, and why is it important? Retrieved August 29, 2020, from https://www.searchcompliance.techtarget.com/definition/what-is-risk-management-and-why-it-is-important