Reference no: EM132897791
MGT2MRM Enterprise Risk Management - Latrobe University
The group assignment features a live case study approach learning by observing and this requires a sound conceptual base. The process adopted in this assignment is for students to study and evaluate real organizations to learn the cybersecurity risk management strategies and activities for growing value. The emphasis is on developing crucial cybersecurity risk management knowledge and skills on how organizations identify, evaluate, mitigate, detect/monitor/report cyber risks, implement an incident response plan and execute a recovery plan.
Your group will select from one of the organizations evaluated by your group members in Assessment 3 for this assignment. Your group is required to submit a report of not more than 3,000 words on the cyber security risk management function at the operational level of your organization.
The aim of this project is to consider cybersecurity risk management theory and standards and implementing them to enable your organization to systematically review, identify, analyze and address the various types of cyber threats in relation to critical business systems, networks and data. You are required to produce a synthesized report that presents an assessment for your organization using the five core functions in the NIST Cybersecurity Framework (NIST CSF). You are also required to discuss the implications of your recommended operational framework for your organisation in the context of the broader enterprise risk management framework. Therefore, this research project should also include the following:
Literature research: conduct a formal analysis of the literature on NIST CSF and present the relevant concepts, strategies, standards, best practices, tools and techniques in relation to cybersecurity risk management;
Critical analysis: conduct a critical analysis of the literature/NIST CSF and evaluate how it may apply in your organization;
Application: recommend and apply concepts, standards and tools to your organization based on NIST/CSF to design a cybersecurity risk control model for your organization at the operational level, and
Presentation: the results and evaluation of their significance in addressing the cybersecurity issues.
The group report on the cybersecurity risk management function and the pertinent issues to your case study should include the following areas:
1. Broadly, show how NIST CSF can be used to implement a cybersecurity operational mitigation process for your organisation's cyber environment by prescribing the relevant actions & activities that is consistent with your organisation's strategic risk strategy.
2. Apply the core functions, relevant categories and sub-categories in the NIST CSF framework to evaluate your organisation.
3. Investigate and identify at least three cyber threats to your organisation's critical systems, networks and data.
4. Assess the vulnerabilities of your organisation's critical systems, networks and data by showing them on a risk map and ranking them.
5. Determine the procedures, tools and technologies to protect your organisation's cybersecurity and detect cyber threats, focusing on at least three critical cyber threats.
6. Explain the process that your organisation uses to monitor and report risk.
7. Propose an incident response plan for your organisation in the event of a cyberattack.
8. Explain the essentials of a recovery plan for your organisation.
The assignment must be presented in a business report format and all reference material must be appropriately cited in the text of your assignment. Include a separate reference list that shows the full citation information. Follow the style guidelines for the Academy of Management Journal or the Harvard author-date referencing method.
This assignment will be evaluated for thoroughness in managing cybersecurity risks (what, where, why, who, when and how), identifying the threats, assessing their severity, measuring their impacts and planning risk reduction strategies. The assignment will also be evaluated in terms of the appropriateness of the facts, application of theory/standards, relevant research evidence, critical analysis, innovation and the skill with which it is organized. The final report should be a professional document assuming that you are able to present to the management of your organization.
The typing should be in 12 font size with at least 1.5 spacing between lines. Assignments should be submitted through Turnitin on the due date or a penalty deduction would apply.
Word count: Not more than 3,000
Attachment:- Enterprise Risk Management.rar