A Hybrid Asset-Based IT Risk Management Framework

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Author(s): Baris Cimen (Department of Management Information Systems, Bogazici University, Turkey), Meltem Mutluturk (Department of Management Information Systems, Bogazici University, Turkey), Esra Kocak (Department of Management Information Systems, Bogazici University, Turkey)and Bilgin Metin (Department of Management Information Systems, Bogazici University, Turkey)
Copyright: 2021
Pages: 18
Source title: Advanced Models and Tools for Effective Decision Making Under Uncertainty and Risk Contexts
Source Author(s)/Editor(s): Vicente González-Prida (University of Seville, Spain & National University of Distance Education, Spain)and María Carmen Carnero (University of Castilla-La Mancha, Spain)
DOI: 10.4018/978-1-7998-3246-1.ch009

Keywords: Business & Management / Business and Organizational Research / Business Science Reference / Risk Management & Analysis

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Abstract

Information security has become one of the most important responsibilities of all organizations due to increasing cyber threats. Attackers take advantage of systems vulnerabilities; therefore, system administrators should be aware of potential threats to take necessary actions to protect their organizations and stakeholders. At this point, a risk assessment is needed to discover possible threats for vulnerable systems of the organization and to implement strategies for the business goals. This study proposes a hybrid risk management framework using both qualitative and quantitative methods to analyze risk within organizations and reduce them with practical countermeasures. Based on this framework, case studies have been carried out considering three hypothetical companies identifying possible information security risks, and these risks have been reduced to an acceptable level by applying the proposed risk analysis methodology.

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A Hybrid Asset-Based IT Risk Management Framework

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