ITM 350 Lecture Notes - Lecture 5: Standard Operating Procedure, Breakcore, Disaster Recovery
26 Feb 2016
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Document Summary
Every info system face risks of error, fraud, malicious acts or disaster. Risk: the probability of an event occurring that leads to undesirable consequences. Error: an unintentional act/omission that leads to undesirable consequences. Fraud: an intentional act that relies on deception to misappropriate assets/obtain other benefits. Malicious acts: intentional acts that lead to the destruction of facilities, hardware, software or data. Disasters: acts of nature such as floods, tornados. Leads to destruction of assets and disruption of business activities. Internal risks: lack of standards, regulations and rules and support systems. External risks: natural hazards, legal issues and environmental issues. Revenue leakage, poor image, and inability to foster trust with business partners. Failure to meet contractual obligations, and impairment to obtain additional business. Challenges with integrating existing systems, security and privacy issues. Instant deliveries (no room for error) especially with real-time procurement requirements. Risks of non-performance and insufficient monitoring; loss of control of business activities.
