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Essay / Research Paper Abstract
This 3 page paper considers the way in which an IT risk assessment may be considered in terms of measuring a return on investment, and looks at the concepts of risks, threats and vulnerabilities. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEITRAroi.doc
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Unformatted sample text from the term paper:
result of the assessment; possibly the opposite result; increased spending required. This can lead to difficulties in terms of perceiving the value, but it is still possible to assess the
return on investment that is created by an investment in IT risk assessment, looking at the way return on investment can be assessed and considering to way it may aid
with the identification and management of risks, threats and vulnerabilities. Return on investment is a term used to define the total return that is earned on an investment, this
is the benefit or profit earned divided by the total investment, expressed as a percentage (Elliott and Elliott, 2008). There are different variants, but this will usually be an earnings
figure before any taxes or deductions. As an IT risk assessment does not generate a tradition a profit the value needs to be assessed in a different way; the savings
that it created may be seen as money that the firm gains from the investment. For example, a risk assessment may identify a vulnerability to hackers; the potential losses that
would be incurred as a result of the exploitation of this vulnerability may be assessed and seen as a positive return. The value would then be assessed as a result
of the savings that were created less the costs of putting those savings in place. Increased security may reduce costs as a result of mitigating or eliminating costs, but also
more directly, such as by reducing insurance premiums. Other benefits may result in terms of benefits to the firms reputation for string IT security that may help to generate business.
These all create value which may be quantified, and then used ti calculated a potential return on investment against the cost of the assessment. The assessment will need to
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