What is the definition of risk management in the context of information systems?
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What is the definition of risk management in the context of
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- what are the 3 dimensions of risk management?what are the roles and responsibilities for risk management?A recommended approach is that the people assigned to implement a risk management program should begin by studying the models presented earlier in this chapter and identifying what each offers to the envisioned process. Once the organization understands what each risk management model offers, it can adapt one that is a good fit for the specific needs at hand. Which risk control strategy would you consider the most effective and why? When should the strategy be used and why should it not be used for all risks?
- Differentiate between quantitive risk assessment and qualitative risk assessmentWhere do risk management and risk assessment differ from one another, and why is that the case?are there different definitions for risk? if so what are they? how would organizations benefit from having a formal risk management program (especially for IT and auditing)? what does risk and risk management mean to you?