Propose a risk assessment methodology (ex. Quantitative or Qualitative) that can be used to conduct a risk assessment of the Phase 1 Case Study. State why the methdology is the best choice for your case study.
The key to this assignment is to demonstrate your understanding of the topics, not to re-word the text or reference material. Please see Appendix A for the grading rubric on all written assignments.
Please complete the scenario below following these guidelines for your deliverable.
This portion of the Case Study assignment must be a minimum of 2 pages double spaced; plus a title page and a reference page for a total of 6 pages.
Make sure you are using at least two (2) academic references for this phase.
This submission should be created following APA 6th edition guidelines.
The paper is to follow the APA style guide, Sixth Edition
Submit your assignment as a MS Word attachment.
You will be required to run your paper through Turnitin.com, ensure that your similarity index is sufficiently low, and submit an originality report with your paper.
A) Propose a risk assessment methodology (ex. Quantitative or Qualitative) that can be used to conduct a risk assessment of the Phase 1 Case Study. State why the methdology is the best choice for your case study.
B) Make sure the reference list contains at least 2 sources.
Running Size of your deliverable should include the 2 Pages of content for this phase, a title page, the references page, plus the 2 pages from Case Study Phase 1 for a total of 6 pages (including title and references). We are essentially building the Risk Assessment report, which is why the first 2 pages from the first case study are needed. TurnItIn is not required for this assignment. Let me know if you have any questions or concerns about the assignment.
Case study 1
IT Risk Assessment f IT Risk Assessment Risk could be defined as a situation where an organization is exposed to loss, harm, or danger. On the other hand, risk management refers to an organization’s ability to perform specific actions to prevent something bad from happening. During the process of mitigating risk in organizations that are reliant on IT as a means to operating swiftly not only today but also in the foreseeable future, the concerned managers are obliged to identify various IT threats so that the loss of data can be stopped within their system (Rausand & Haugen, 2020). Although threats that may affect the IT networks of an organization could be regarded as either minor risks or major risks, all risks should be tackled seriously regardless of their impact. If such risks are not mitigated, they can result in the collapse of an organization’s security systems. The moment a company makes use of risk management concepts, the concerned managers are empowered to understand how the risk at hand is associated with particular IT vulnerabilities and threats (Rausand & Haugen, 2020). Even when it is the case, managers should note that risk management does not enforce risk elimination. Instead, risk management allows organizations to recognize serious IT threats brought forward by risks whose impact could be reduced. The implementation of control over IT threats is also the other goal of risk management. Amazon continues to serve many customers in the US and beyond. Since it is keen to ensure its business empire is not affected in any way, managers are always looking for ways to minimize risks that may affect their business (Charan & Yang, 2019). Amazon believes in ensuring that anyone who visits their website to shop online can benefit from a satisfying shopping experience. Because it wants to eliminate customers’ challenges during shopping, the IT department works to introduce web features and applications that could be appealing to every customer. Amazon has also established approaches that guarantee customers that their sensitive information is protected. The use of robust IT systems helps to provide customers with the security they need as they shop online (Charan & Yang, 2019). The company achieves all these through exercising risk assessment which is crucial when it comes to eliminating risks. Risk assessment allows Amazon to establish suitable risk management approaches where appropriate strategies support the implementation of desirable IT systems. Potential risks that should be mitigated by Amazon differ. For instance, if a technical glitch affects Amazon’s systems, losses will be recorded by shareholders. Alternatively, if someone could gain unauthorized access to their customer user database, their customers would lose faith in the company’s ability to safeguard their data and might go to a competitor. In addition, Amazon collects massive amounts of data on all of their customers from what items they have looked at, how often they looked and for how long they looked, and if they bought or what they eventually bought. This type of information would give a fantastic insight for a competitor to get their hands on. However, since Amazon continues to ensure it provides its customers with the best services as they shop online, nearly everyone wants to buy from Amazon (BohatALA, 2021). Shareholders usually find this approach to be enticing because they are guaranteed direct payoffs after the company has recorded profits from sales. The strong board of directors that controls Amazon is also a plus to the company. Years after years, Amazon has been establishing its online business in a way that makes customers identify with the products they purchase online from the company. The robust IT structures and reliable security systems Amazon acquired for its business are the perfect solution for everyone out there who wants to shop online (BohatALA, 2021). Overall, potential risks leading to the failure of Amazon technologies will likely never be recorded since the company is a leading tech giant. References BohatALA. (2021, March 10). Amazon.com risk assessment analysis report. https://bohatala.com/amazon-com-risk-assessment-analysis-report/ Charan, R., & Yang, J. (2019). The Amazon management system: The ultimate digital business engine that creates extraordinary value for both customers and shareholders. Ideapress Publishing. Rausand, M., & Haugen, S. (2020). Risk assessment: Theory, methods, and applications. John Wiley & Sons.
