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Summary Risk Mitigation Step Plan doc.doc BSA/ 520 Gail Risk Mitigation Step Plan BSA/ 520 Introduction Gail Industries performed an analysis on the potential risks, threats, and vulnerabilities that the City of Smallvilles customers may experience by condu
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Risk Mitigation Step Plan BSA/ 520 Gail Risk Mitigation Step Plan BSA/ 520 Introduction Gail Industries performed an analysis on the potential risks, threats, and vulnerabilities that the City of Smallvilles customers may experience by conducting online transactions. A risk and threat report...
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BSA/ 520
Gail Risk Mitigation Step Plan
BSA/ 520
Introduction
Gail Industries performed an analysis on the potential risks, threats, and vulnerabilities
that the City of Smallville’s customers may experience by conducting online transactions. A risk
and threat report were then written up and submitted to SCOPE’s leaders. After careful review,
the leaders have accepted the report and are now aware of the risks it faces daily in its delivery
and operations. It is now imperative that the organization successfully mitigate actions to reduce
the severity, seriousness, and complexity that these risks, threats, and vulnerabilities present.
Risk Mitigation Plan
As IT Manager of Gail Industries, I have put together a Risk Mitigation Plan that will
manage, eliminate, or reduce risk to SCOPE’s acceptable level. Monitoring to evaluate the plans
effectiveness will begin immediately upon implementation. The purpose of monitoring will
allow IT the option to immediately revise the course-of-action in the event the plan does not
produce the intended result. Gail Industries mitigation plan if centered around the probability of
occurrence and the severity of the consequence for each identified risk.
A Risk Matrix is utilized to identify the Probability / Impact / Overall Risk Level. In
other words, applying risk management principles along with their expertise to generate a table
presenting the probability of a risk occurring along with the possible impact that it might have on
the organization. Probability is established on a percentage of the likelihood the event would
occur.
0 – 40 Very Unlikely Low
41 – 60 Approximately Half the Time Medium
61 – 99 Likely High
100% would not be included since it represents the risk would absolutely occur.
, The impact would be founded on the financial impact, system availability, continuous
operations, and safety of personnel that the event would present to the organization or its
workforce should it transpire.
Low Minimum loss of assets or marginally affects operations.
Medium Loss of assets could be costly, operations affected, or injury to staff.
High Loss of assets is very costly, operations significantly affected, or severe
injury or death of personnel.
Transaction Attacks
Overall
Risk Probability Impact Mitigation
Severity Risk
Keep Software Up-to-Date
Install Anti-Virus Protection Software
Back Up Critical Data
Hold Security Training for Employees
Secure Infrastructure
Next Generation Firewalls
VPN
Anti-Virus
Online Anti-Spam
Security Medium High High Content Filtering
Attacks Web Filtering
Load Balancing
Intrusion Detection and Prevention
System
Implement Multi-Factor Authentication
("How To Best Mitigate Cybersecurity Risks And
Protect Your Data", 2019).
Assess System for External and Internal
Vulnerabilities
Implement an Enterprise-Level Network
Infrastructure
System Execute a Redundant Network Connection
Reliability Low High Medium Utilize a Backup Power Connection.
Use Cloud or Colocation Services
("5 Ways To AvoidNetwork Downtime For
Businesses", 2021).
Privacy Medium Medium Medium Establish a Team to Identify Privacy and
Issues Security Issues, Set Priorities, and
Standardize Access and Disclosure Practices.
Perform Recurring Assessments of Risks and
Controls
Encrypt Sensitive Data Utilizing the National
Institute of Standards and Technology
standard for data at rest and data in motion.
Employ Technology that Detects and Prevent
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