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Risk Reporting and Documentation

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Risk reporting is a key task to perform at the conclusion of a risk analysis. Risk reporting involves the production of a risk report and a presentation of that report to the interested/relevant parties. For many organizations, risk reporting is an internal concern only, whereas other organizations may have regulations that mandate third-party or public reporting of their risk findings. A risk report should be accurate, timely, comprehensive of the entire organization, clear and precise to support decision making, and updated on a regular basis.

A risk register or risk log is a document that inventories all the identified risks to an organization or system or within an individual project. A risk register is used to record and track the activities of risk management, including the following:

 Identifying risks

 Evaluating the severity of and prioritizing those risks

 Prescribing responses to reduce or eliminate the risks

 Tracking the progress of risk mitigation

A risk register can serve as a project management document to track completion of risk response activities as well as a historical record of risk management over time. The contents of a risk register could be shared with others to facilitate a more realistic evaluation of real-world threats and risks through the amalgamation of risk management activities by other organizations.

A risk matrix or risk heat map is a form of risk assessment that is performed on a basic graph or chart. It is sometimes labeled as a qualitative risk assessment. The simplest form of a risk matrix is a 3×3 grid comparing probability and damage potential. This was covered in Chapter 1.

(ISC)2 CISSP Certified Information Systems Security Professional Official Study Guide

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