How To Risk Measurement

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02 Nov 2017

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COBIT is the information management and control strategy framework. It is a basis for auditing the IT management. It’s include principles, practices, tools, models and risk. It's help enterprises improve information and technology management processes.

COBIT domain is

Plan and Organise

Acquire and Implement

Deliver and support

Monitor and Evaluate

COBIT Governance Tools include 5 part

Management Guidelines

Framework

Control Objectives

Implementation Tool Set

Audit Guidelines

COBIT's working definitions is follow

Effectiveness

Efficiency

Confidentiality

Integrity

Availability

Compliance

Reliability of Information

Audit process are-

Understanding of business requirements, relate risk and control measures within the process

Considering identify criteria and industry best practices. And reviewing critical success factors of the control measures

Assessing compliance by testing whether the stated controls are working as prescribed, consistently and continuously

Substantiating the risk control objectives

I’ve made investigate and get some result. I present the possibility result. I hope this will help you sir.

Solution is base with COBIT. COBIT is Control Objectives for Information and related Technology. It is an IT governance framework and supporting toolset that allows managers to bridge the gap between control requirement, technical issues and business risk.

In company software projects is bad reputation. Delivering over cost, over time and failing to meet the user requirement. Over 40 workers is work hard but rarely satisfy user. Not satisfy IT Services and also new software development.

I searched problem point of the team. There are- Over 40 workers work hard but not satisfy user. It will be less management and control. And it will be work hard is not match for objective. Over cost, over time it will be team member have not sufficient knowledge, skill and working experience.

Assumption

My assumption issuing COBIT. COBIT has good control practice, provides IT process control, management and audit. COBIT is balance risk and control in a cost-effective manner. Using COBIT audit, day to day working performance. And workers make daily report. It will be help working performance of each member. Using COBIT control practice is defining process Goals and Objectives. And define roles and Responsibilities and also define plan, procedure and policy. And then monitor of process performance improvement. COBIT control includes access risk.

How to control the business risk assessment?

How to risk identification? and

How to risk measurement?

I recommend COBIT is the appropriate solution for the company problem.

Task 2

The company is face to failure, and disappointed. User is not satisfy both new products and services. Over 40 workers are doing work hard but can’t changes to result. Company is deciding which project is to processed with is they can all be justified by company needed. Then, choosing the SWOT analysis and Ishikawa Diagram.

Ishikawa Diagram

The Ishikawa Diagram is also known as the Fishbone Diagram or the Cause-and-Effect Diagram. It is determine cause and effect. The diagram focuses on the causes rather than the effect. The fishbone diagram is a cause and effect diagram that can be used to identify the potential causes for a performance problem. Fishbone diagrams provide a structure for a group’s discussion around the potential causes of the problem. 

The purpose of the Fishbone Diagram is to help teams categories the many potential causes of problems or issues in an orderly way. It helps in mining deterministic causes. In essence, this analysis breaks the "parts." "Whole" Fishbone diagrams are useful in breaking down a clear relationship between the theme and all the factors that are associated with it. When used as a cause-and-effect diagram, a Fishbone Diagram to represent. The degree of influence of each cause

Fishbone Diagram identify possible cause is based on

4M – Material, Men Power, Machines, Method

4S – Surrounding, Supplier, System, Skill

4P – Place, Procedure, Peoples, Policies

Company have many causes, over time, over cost and working is overloaded. Another possible causes are workers have not sufficient knowledge and skills. And also workers not have empowered. Not have management and audit. System procedure is wrong or not affect. User not satisfy cause is may be less user involvement.

SWOT Analysis

SWOT is the Strength, Weakness, Opportunities, Threats. SWOT is a tool for audit and analysis of the overall strategic position of the business and environment. SWOT look into internal and external factors affecting the issue.

SWOT is commonly used as part of strategic planning

Internal strengths

Internal weaknesses

Opportunities in the external environment

Threats in the external environment

Strength

To identify an organisation’s strength. What advantage of organisation have. What are its assets. Strength include human competencies, financial resources, products and services, customer satisfy and brand loyalty, etc. In company IT department have over 40 workers. And all of them are working hard.

Weakness

To identify organisation’s weakness. What improvements could be made. What resources are lacking. Weakness are influences on the organisation success and growth. Example of organisation weakness are complex decision making process, high employee turnover, huge debts. In company weakness is weak management control, audit. And also possible employee’s skills and knowledge, etc.

Opportunities

Opportunities is available ifor the organisation. When are the chance for make grater sales. What economic trends benefit for organisation. Organisation can gain competitive advantage by making use of opportunities. In company opportunities is new CEO take over the company and change the system procedure.

Threats

Threats have two type Internal Threats and External Threats. What are your competitors doing? What change the Law? increasing competition leading to excess capacity. Change quality standard for services or product. In company threats is bad quality for service and new product.

Assumptions

Choice tools and techniques for Fish bone Diagram and SWOT analysis. It’s may be helpful for company problem. It’s can be get details of problem and how to change the system. Fish bone diagram is help for company cause and effect. What cause is main effect and what are they affect. SWOT Analysis techniques is help for define what are the strength, weakness, opportunities and threats.

Task 3

For company problem one of the solution is outsource for IT function. It’s a possible but it affect the cost. Because it work force is use of both existing and outsource. Another point is all of the people are many year worked with us. Search solution based on the ethical framework. This framework is Kallman and Grillo’s Ethical Framework.

Kallman and Grillo’s Ethical Framework

Framework have 5 steps.

Understand situation

Identify key ethical issues

Analyses alternative ethical solution

Make decision & implement action

The four processes in the framework. There are-

Formal Guidelines

Ethical Theory

Legal Issues and

Informal Guidelines

Kallman and Grillo’s Ethical Framework is method for ethical decision making. And their method involves the use of five tests. There are

The mom test : It’s like tell your mother, what you did and what u do.

The TV test : It’s like tell a TV audience what you did

The smell test : It’s like does you have a bad smell to it

The other person’s shoe test : It’s like what you did to be done to you

The market test : It’s like your action be a good sales.

Assumptions

One of the solution is hire outsource. Another solution is hiring expertise technician. And work together with IT team. It is the less cost effective rather than hiring outsource. Work together is good for IT team. Technician can share knowledge and tech like a on job training for Team. It’s improvement the team skill and work skill and reduce cost affective. Another one is monitor and control. Assign the task and monitor each member. Making practices the daily report and after review the work done. And also record improve or worse in document. Define what is the issues and if have issues, how action taken. Team separate small team group. Include one team in 6 people or 7. If team is small control is more effective. And assign task is reduce over work load. If control and Manage the team and process, the process is faster and reduce the over time case. If reduced the over time, time is reduced the over cost.

This is the possible solution based on Kallman & Grillo Ethical Framework and also based on COBIT.



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