Write short notes on Risk Assessment

A Management Information System ICT Revision Questions and Answers

Answer
Risk Assessment: A risk assessment activity can provide an effective approach, which acts as the foundation for avoiding the disasters. Risk assessment is also termed as a critical step in disaster and business continuity planning. Risk assessment is necessary for developing a well-tested contingency plan. In addition, Risk assessment is the analysis of threats to resources (assets) and the determination of the amount of protection necessary to adequately safeguard the resources, so that vital systems, operations, and services can be resumed to normal status in the minimum time in case of a disaster. Disasters may lead to vulnerable data and crucial information suddenly becoming unavailable. The unavailability of data may be due to the non-existence or inadequate testing of the existing plan.

Risk assessment is a useful technique to assess the risks involved in the event of unavailability of information, to prioritize applications, identify exposures and develop recovery scenarios.



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