SOLUTION: Princess Noura Bin Abdulrahman University Risk Analysis Management Project Question

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SOLUTION: Princess Noura Bin Abdulrahman University Risk Analysis Management Project Question 1

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Outline of the Paper
Question 1
Several businesses apply IT as a significant component of business operations at all levels. The
application of IT has become inevitable for organizations due to its boost and promotion of
efficiency and productivity.
Question 2
Risk assessment is a method used to prioritize, assess and identify risks in an organization.
There are several approaches to risk management, and here are three of them.


Qualitative Risk assessment
Quantitative Risk Assessment
Generic Risk Assessment

Comparison
Qualitative assessment is the most effective among the three.
Question 3
Inconsistency along the supply chain
Several organizations had never seen delays and breakdowns along their supply chains until
coronavirus happened.
Cybersecurity
Cybersecurity has been a hot topic when it comes to organizational risks. The coronavirus
pandemic has indeed shown the business community that cybersecurity is a real threat to
organizations.
Conservativeness
By the time of the pandemic, some organizations had not migrated their services from analogue
to digital.

RISK ANALYSIS MANAGEMENT

1

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DECLARATION
I certify that this assignment is my own work and is free from plagiarism.
I certify that all material drawn from sources have been fully acknowledged.
I understand that the assignment may be checked for plagiarism by electronic or other means and
may be transferred and stored in a database…

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