Assets and Risk Management
CIS 527 IT Risk Management
January 30, 2016
This paper will help analyze risk management and the assets that it protects. Within the paper there will be a couple risk assessment methodologies discussed. The approaches of how to identify threats to a particular organization and its assets. Then will go over some different assets that need protected. Lastly the relationship between access and risk, and the tradeoffs of restricting access to the company’s assets.(Strayer University, 2016).
Explain at least two (2) different risk assessment methodologies.
There are two basic types of risk assessments. These risk assessments are quantitative and qualitative. Quantitative, “is an objective method. It uses numbers such as actual dollar values.”(Gibson, 2015, p. 117). To use the quantitative method there is a lot of data that is required and getting this data can take time. But, once the data is available the risk assessment is just a math problem that needs to be worked out. The answers to the problems will make it so that the risk can be prioritized.
Secondly, there is the qualitative method. “This is a subjective method. It uses relative values based