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Risk Management - Case Study



Case Study:

As Charlie wrapped up the meeting, he ticked off a few key reminders for everyone involved in the asset identification project. “Okay, everyone, before we finish, please remember that you should try to make your asset lists complete, but be sure to focus your attention on the more valuable assets first. Also, remember that we evaluate our assets based on business impact to profitability first, and then economic cost of replacement. Make sure you check with me about any questions that come up. We will schedule our next meeting in two weeks, so please have your draft inventories ready.”


Questions:

1. Did Charlie effectively organize the work before the meeting? Why or why not? Make a list of the important issues you think should be covered by the work plan. For each issue, provide a short explanation.

  • Yes, Charlie can organize the work before the meeting because he identified the needs of the work and prepared a work plan for design and submitted it to each employee. He planned everything properly, and assessed the needs of the group and identified key aspects of the work plan and how it affected each individual.
  • A work plan is a tool for planning. During a specific period of time, it identifies the problems to be solved and ways to solve them through a defined guideline within the plan that specifically addresses the key aspects of the problem and the solution.
  • Important issues for a work plan are:
    • Teams, Tasks, and schedules
    • Teams: Once the solution has been selected then the team is appointed, and it is guided to prepare a work plan. The team is composed of key players that contribute to the different aspect of the security posture and its effects on the organization.
    • Tasks: A task is a work item, which includes only the main activities for the required resources. Timescales, and milestones. It identifies and determines what outputs are to be drawn based on the goals.
    • Schedules: Once the project plan is over the it is decided at what time it will be complete, this includes planning documents, status reports and deliverables.

2. Will the company get useful information from the team it has assembled? Why or why not?
  • Yes, the company can get useful information from the team. First of all, the team identifies the assets and most valuable assets that generate profits and are more expensive to replace, etc. Then the team can move to identify the risks faced by those assets.

3. Why might some attendees resist the goals of the meeting? Does it seem that each person invited was briefed on the importance of the event and the issues behind it?
  • Some people might view the meeting as extra work even though it can be beneficial for the company to have plans in place. I don’t feel that everyone was briefed on how important the even was and there could be more issues that arise from this if there are not steps properly executed