This document describes a model called the Risk Management Maturity Model in Information Security (MMGRseg) to assess the maturity level of risk management processes in information security. The MMGRseg model includes three stages of maturity, five maturity levels, forty-three control objectives across six risk management activities, and tools to assess processes and identify improvement areas. A case study applying the MMGRseg model found that most companies could only achieve the initial maturity level, indicating deficiencies and opportunities for strengthening risk management practices. The MMGRseg provides a standardized approach to evaluating risk management processes and guiding organizations towards process improvements.
This presentations tells the story of the Risk-led transformation that HML has undertaken over the last 18 months. It outlines some of the key challenges, how they were overcome and the benefits delivered.
eFront is a leading software provider of solutions dedicated to the financial industry with recognized expertise in Alternative Investments and Risk Management. eFront’s solutions serve major companies in the Private Equity, Real-Estate Investment, Banking, and Insurance sectors.
This presentations tells the story of the Risk-led transformation that HML has undertaken over the last 18 months. It outlines some of the key challenges, how they were overcome and the benefits delivered.
eFront is a leading software provider of solutions dedicated to the financial industry with recognized expertise in Alternative Investments and Risk Management. eFront’s solutions serve major companies in the Private Equity, Real-Estate Investment, Banking, and Insurance sectors.
Delivering Business Value By Applying Agile Principles To Business Continuity...Ken Collins
Agile methodologies clearly work well in the world of software development—the evidence is overwhelming. But how does Agile apply to other disciplines like business continuity management? Can the Agile philosophy help mitigate power disruptions and improve pandemic planning?
Mr. Collins illustrates how one client in the financial services sector successfully applied Agile principles to a recent business continuity initiative.
This session is intended for executives and project managers charged with developing business continuity and IT disaster recovery plans.
Learning Objectives
• Describe typical challenges as businesses try to build competency with business continuity management.
• Learn how Agile principles can shape the vision and scope of business continuity initiatives.
• Understand how Agile can enhance accountability, motivate teams, deliver short-term wins and generate real business value.
Information Technology Risk ManagementGlen Alleman
The concept of managing the development or deployment of an Information Technology (IT) system using deterministic, linear, and causal analysis contains several pitfalls. As IT systems grow in complexity, the interaction between their components becomes non–linear and indeterminate, creating many opportunities for failure.
Hydron Consulting introduces ERM solution for Turkish Market.
Corporate boards, CEOs, CFOs and other members of the senior leadership team are facing unprecedented levels of business complexity, changing geopolitical threats, new regulations and legislation, and increasing shareholder demands. To address these challenges, business leaders are embracing the discipline of enterprise risk management in the planning and assessment of strategic objectives, and the monitoring and reporting on risks associated with those objectives.
We cannot determine the Value of something unless we know it’s cost. But determining Value requires have tangible measures to be compared against the cost. In the Systems Engineering Paradigm, these are the Measures of Effectiveness, Measures of Performance, Technical Performance Measures, and Key Performance Parameters
Qualified Audit Partners advices executive management on IT governance, performs IT audits, optimises business processes and provides training and education in IT Governance and audit.
Delivering Business Value By Applying Agile Principles To Business Continuity...Ken Collins
Agile methodologies clearly work well in the world of software development—the evidence is overwhelming. But how does Agile apply to other disciplines like business continuity management? Can the Agile philosophy help mitigate power disruptions and improve pandemic planning?
Mr. Collins illustrates how one client in the financial services sector successfully applied Agile principles to a recent business continuity initiative.
This session is intended for executives and project managers charged with developing business continuity and IT disaster recovery plans.
Learning Objectives
• Describe typical challenges as businesses try to build competency with business continuity management.
• Learn how Agile principles can shape the vision and scope of business continuity initiatives.
• Understand how Agile can enhance accountability, motivate teams, deliver short-term wins and generate real business value.
Information Technology Risk ManagementGlen Alleman
The concept of managing the development or deployment of an Information Technology (IT) system using deterministic, linear, and causal analysis contains several pitfalls. As IT systems grow in complexity, the interaction between their components becomes non–linear and indeterminate, creating many opportunities for failure.
Hydron Consulting introduces ERM solution for Turkish Market.
Corporate boards, CEOs, CFOs and other members of the senior leadership team are facing unprecedented levels of business complexity, changing geopolitical threats, new regulations and legislation, and increasing shareholder demands. To address these challenges, business leaders are embracing the discipline of enterprise risk management in the planning and assessment of strategic objectives, and the monitoring and reporting on risks associated with those objectives.
We cannot determine the Value of something unless we know it’s cost. But determining Value requires have tangible measures to be compared against the cost. In the Systems Engineering Paradigm, these are the Measures of Effectiveness, Measures of Performance, Technical Performance Measures, and Key Performance Parameters
Qualified Audit Partners advices executive management on IT governance, performs IT audits, optimises business processes and provides training and education in IT Governance and audit.
Risk Management: Achieving Higher Maturity & Capability Levels through the LE...Luigi Buglione
A common challenge in life is to evaluate and deal with risks. Even though Risk management is fundamental to any activity, it is too often evaluated and managed from a qualitative rather than a quantitative perspective. In order to improve, too often organizations are seeking compliance against a single model/approach, forgetting that most often ‘one model doesn’t fit all’ and that the target process model is the organizational one, strengthened by external best practices. An approach to process improvement that takes this into consideration is LEGO (Living EnGineering prOcess). LEGO extracts the most useful Elements of Interest (EoI) from several types of maturity models into an organizational Business Process Model (BPM) in order to facilitate to the achievement of higher organizational maturity and capability levels, that’s the definitive intended target to be improved. This paper applies the LEGO approach to Risk Management, analyzing several Risk Management Maturity Models and unifying their practices in order to come up with a more comprehensive process model on risk management integrating multiple views.
A review of a systematic decision-making process to manage risk. The objective is to enhance mission performance by minimizing the unnecessary risks (probable losses) while taking the mission supportive risks (probable gains).
1Risk Reporting
Risk Reporting
Rique Giddens, Anne Saintilus, Katherine Entress, Maria McPhatter, Robert Martinez, Tonya Townsend, Twanna Perkins-Monroe
PM 584
Arnetra Arrington
5/02/16
Risk Reporting
Individual Research
In this paper, each member of Team A reports on a risk monitoring and a risk reporting practice and what lessons learned he or she can apply in their own projects. As a group, the team analyzes the theoretical application of these monitoring and reporting practices. They summarize the strengths and weaknesses of each practice. They conclude by selecting the top two risk monitoring and risk reporting practices.
Project One Risk Manager: Robert
Risk Register
For the Riordan Manufacturing relocation, a risk register would be the one of the best tools to use to help identify the risks that are going to be associated with the move. It is a great tool that can be used in the early stages of planning that will help identify the risks and let the PM know that there are risks that need to be managed. Developing the risk register will also help the project team and PM identifies who they need to communicate with when they are faced with risks. A risk register is a tool that will have all the risks that the team has come into, it will have the severity of the risks the methods to manage, and will update all parties involved about the risks of the project letting everyone involved know whether the risks have been dealt with.
Pros and Cons
One of the good things about using this tool is that you can gather all the risks and start to manage them at an earlier stage. A drawback of the register is that if it is not updated and use correctly it can slow down the team and PM. Project Two Risk Manager - Rique
Risk Register
The risk register and the RAP are both great practices and tools that will help any organization with their project. The Risk Register collects all of the risks and ranks them so that the high priority risks get the attention they need. The register is updated as the project goes on.
RAP
The RAP is a great tool to help the PM report updates to senior leaders and stakeholders. Both of these play a part in other areas like monitoring and controlling risks, and the RAPs helping communication stay in line. Risk monitoring and reporting are essential because it keeps everything in front of the team and doesn't allow risks to creep up. Without the monitoring risks could creep around and cause delays and cost overruns to the project.
Lessons Learned
There are always lessons that can be taken from past projects and keep track of changes and issues can help make sure they don't occur again.
Project Three Risk Manager – Twanna
Risk monitoring - Project Risk Response Audits
The auditors of the risks will take an examination and then document how effectiveness of the risk response. This will be with respect to avoiding, the transfer or the mitigation of the occurrence of the risk (Heldman, Baca, & Jansen, 2007). ...
Project risk management model based on prince2 and scrum frameworksijseajournal
Agile methods grew out of the real-life project experiences of leading software professionals who
had experienced the challenges and limitations of traditional waterfall development
methodologies on projects after projects. The agile development frameworks are widely used and
they don’t contain any risk management techniques because it is believed that short iterative
development cycles will minimize any unpredictable impact related to product development [1],
[2]. However in larger projects or during development of complex products, especially in the
global environment, the need of proper risk management is required. From the audit perspective,
there is the clear control requirement “BAI01.10 Manage programme and project risk“ defined by
COBIT 5 that requires that project risks should be systematically identified, analysed, responded
to, monitored and controlled. Additionally the risks should be centrally recorded [3, p. 125].
Additionally, controlling risk in software projects is considered to be a major contributor to
project success [4].
The need to manage risks in agile project management is also identified by various authors.
The SOA principles from the agile project management perspective were used to create
a framework for understanding agile risk management strategies for global IT projects [5]. Main
risk models and frameworks used by software engineers are discussed with conclusion that
the risk management steps are required for delivery of quality software [6], [7]. Agile
methodologies don’t cover the risk management knowledge area that can be taken from project
management frameworks like PMBOK [8]. Risks related to global software development projects
using Scrum have been researched and a conceptual framework to mitigate them designed [9].
Also the increasing variety of security threats should be managed as risks in the agile
development projects [10], [11].
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Information Security Risks Management Maturity Model (ISRM3)
1. A Model to Assess the Maturity Level
of the Risk Management Process
in Information Security
Janice Mayer
Universidade do Vale do Rio dos Sinos (UNISINOS)
j.mayer@brturbo.com.br
Leonardo Lemes Fagundes
Universidade do Vale do Rio dos Sinos (UNISINOS)
llemes@unisinos.br | Fone: 55 51 35911100 - branch 1775
4rd IFIP/IEEE International Workshop on BDIM - 9 June 2009
1
3. Introduction
Information: one of the most valuable assets.
Risk Management(RM): an essential front.
Achieve compliance: laws, standards and
regulations.
Meet mandatory requirements for the certification of
an Information Security Management System.
3
4. Motivation
Companies need to implement RM.
There is no maturity model aimed at RM in
Information Security.
Maturity model identifies deficiencies in process
structure and management.
To provide improvements with the predictability,
control and effectiveness.
4
5. Objective
Describes the structure of a model for the
assessment of the maturity level of the RM process
in the realm of Information Security.
5
7. Risk Management Maturity Model
In Information Security (MMGRseg)
MMGRseg is comprised of a set of requirements
and best practices, which provides a formal
structure.
Aligned with standard ISO/IEC 27005.
7
8. Structure - MMGRseg
Comprised of:
three stages;
five maturity levels;
forty-three control objectives;
one control map;
one assessment instrument relative to the maturity
level of the activities of the RM process;
an accountability matrix relative to each activity of the
process; and
a risk scorecard.
8
9. Stages - MMGRseg
Steered for three stages:
Immaturity: processes are improvised.
Maturity: processes are already defined,
standardized and controlled.
Excellence: optimized processes.
9
11. Control Objective - MMGRseg
CD1 Context Definition:
CD1.1. Define the basic criteria for Risk Assessment
CD1.2. Define the basic criteria for Impact Assessment
CD1.3. Define the basic criteria for Risk Acceptance
CD1.4. Establish the scope and the constraints of the risk management
process
CD1.5. Establish and maintain an organization
CD1.6. Develop a risk management policy
CD1.7. Establish a standard for RM processes
CD1.8. Audit the Context Definition activity
CD1.9. Collect and store information
11
12. Control Objective - MMGRseg
AA1 Risk Analysis/Assessment:
AA1.1. Identify the Risks
AA1.2. Estimate the Risks
AA1.3. Assess the Risks
AA1.4. Standardize the Assessment process
AA1.5. Automatize the Analysis/Assessment process
AA1.6. Audit the Risk Analysis/Assessment activity
AA1.7. Avoid rework
AA1.8. Revise the process of risk estimation
12
13. Control Objective - MMGRseg
RT1. Risk treatment:
RT1.1. Select an appropriate Treatment option
RT1.2. Define a Risk Treatment plan
RT1.3. Implement Risk Treatment plan
RT1.4. Define how to measure the effectiveness of controls
RT1.5. Calculate Residual Risks
RT1.6. Standardize the Risk Treatment process
RT1.7. Audit the Risk Treatment activity
RT1.8. Improve the Risk Treatment process
13
14. Control Objective - MMGRseg
RA1. Risk Acceptance:
RA1.1. Verify the description of the Treatment plan
RA1.2. Analyze and approve the acceptance criteria
RA1.3. Verify the residual risk
RA1.4. List the accepted risks
RA1.5. Standardize the Risk Acceptance process
RA1.6. Audit the Risk Acceptance activity
RA1.7. Revise the Risk Acceptance process
14
15. Control Objective - MMGRseg
RC1. Risk Communication:
RC1.1. Implement awareness plan
RC1.2. Make stakeholders able to identify and communicate risks
RC1.3. Standardize the Risk Communication activity
RC1.4. Audit the Risk Communication activity
RC1.5. Exchange and/or share risk-related information
RC1.6. Critical analysis of Risk Communication
15
16. Control Objective - MMGRseg
MA1. Monitoring and Critical Analysis:
MA1.1. Verify the alignment of the RM process with business objectives
MA1.2. Monitor, critically analyze and improve the risk management
processs
MA1.3. Standardize the Monitoring and Critical Analysis activity
MA1.4. Audit the Monitoring and Critical Analysis activity
MA1.5. Improve the Risk Management process
16
17. Control Map - MMGRseg
Risk Management
activities Maturity Levels
Level 1 Level 2 Level 3 Level 4 Level 5
Context definition No control is CD1.1, CD1.4,
implemented CD1.2 and CD1.5, CD1.6 CD1.8 CD1.9
CD1.3 and CD1.7
Risk Analysis/ No control is
Assessment implemented AA1.1 and AA1.3, AA1.4 AA1.6 AA1.7
AA1.2 and AA1.5 and
AA1.8
Risk Treatment No control is RT1.2, RT1.3,
implemented RT1.1 RT1.4, RT1.5 RT1.7 RT1.8
and RT1.6
Risk Acceptance No control is
implemented RA1.1 and RA1.3, RA1.4 RA1.6 RA1.7
RA1.2 and RA1.5
Risk No control is
Communication implemented RC1.1 RC1.2 and RC1.4 RC1.6
RC1.3 and
RC1.5
Monitoring and No control is
Critical Risk implemented MA1.1 MA1.2 and MA1.4 MA1.5
Analysis MA1.3
17
18. Assessment perspective - MMGRseg
Continuous representation.
Each one of the six activities of the Risk
Management process is assessed individually.
The company is able to verify which activity
needs to receive greater focus
Provides specific guidance for each activity in
regards to the necessary steps for an upper
maturity level to be achieved.
18
19. Assessment perspective - MMGRseg
Examples of assessment hypothesis of the Maturity
Level through MMGRseg
19
20. Accountability Matrix - MMGRseg
Controls
CEO
CFO
Executive
Business
CIO
Management
Business Senior
Head Operations
Chief Architect
Development
Head
Administration
Head IT
Security
Audit, Risk and
Compliance,
CD1.1 R/A C C C I
CD1.2 R/A C C C I
CD1.3 R/A C C C I
CD1.4 R/A
CD1.5 R/A
CD1.6 I C R C R/A C C C C C
CD1.7 R/A
CD1.8 A
R=Responsible; A=Accountable, C=Consulted and I=Informed. 20
21. Risk Scorecard - MMGRseg
Every process must have defined goals and aims
making it possible to measure the degree of success
in their execution.
In so doing, metrics need to be defined according to
the SMARRT model (Specific, Measurable,
Actionable, Realistic, Results-oriented and Timely).
In the MMGRSeg model, the measurement of all the
six activities of the risk management process must
be based on SMARRT.
21
22. Case study - MMGRseg
Designed as a questionnaire – based on the
control objectives;
35 questions, uses the Likert scale
CD AA RT RA RC MA
Level 2 Q3 Q9 Q15 Q21 Q26 Q31
Level 3 Q4, Q5, Q10, Q11, Q16, Q17, Q22, Q23 Q27, Q28 Q32, Q33
Q6 Q12 Q18
Level 4 Q7 Q13 Q19 Q24 Q29 Q34
Level 5 Q8 Q14 Q20 Q25 Q30 Q35
CD = Context definition, AA = Risk Analysis/Assessment, RT = Risk Treatment, RA = Risk
Acceptance, RC = Risk Communication and MA = Monitoring and Critical Analysis of the Risk.
22
23. Case study - MMGRseg
The latter was sent as a convenience sample
comprised of 31 companies;
Feedback was received from 12 of them;
Only 3 out of the 12 respondent companies
managed to achieve above level 1;
The remaining respondent companies could only
achieve maturity level 1 in the six activities of the
RM process for IS.
23
24. Conclusion
This is a meaningful contribution to the development to the
field of information security, aligned with ISO/IEC 27005;
It is comprised of a set of requirements and best practices:
three stages: immaturity, maturity e excellence;
five maturity levels: Initial, Known, Standardized, Managed and Optimized;
forty-three control objectives;
one control map;
one assessment instrument relative to the maturity level of the activities of
the RM process;
an accountability matrix relative to each activity of the process; and
a risk scorecard.
24
25. Conclusion
All this can be used by the organization to:
identify the weaknesses and/or deficiencies and the possibilities for
improvements in the process, guiding investments in IS;
directing the investments in Information Security;
foster segmented benchmarking;
disseminate the risk management culture all over the company;
achieve effectiveness in the continuous improvement process of Risk
Management in Information Security; and
advise certification projects of Information Security Management
Systems (ISMS) and Business Continuity.
25