What Is Risk Management?
Risk management is a systematic process that seeks to identify, analyze, reduce, and monitor risks to limit the possibility and effect of unfavourable occurrences that might compromise an organization’s objectives and goals. Risk management in IT security entails locating and analyzing points of vulnerability in an organization’s data storage, transmission, and processing infrastructure. The method aids businesses in assessing risks, establishing a tolerable threshold of risk, and settling on a set of top priorities for reducing those risks.
Risks need to be identified, analyzed, evaluated, treated and monitored as part of the overall risk management process. Analyzing a company’s assets, systems, networks, and procedures may help detect risk. Organizations conduct risk assessments, threat assessments, and vulnerability assessments during the risk analysis to gauge the possible effect and probability of hazards (Acharya & Sahu, 2020). Establishing what constitutes an acceptable level of risk and ranking potential threats is part of the risk appraisal process. Risks may be avoided, transferred, reduced, or even accepted; these actions are all part of the risk-handling process. The last step in good risk management is risk monitoring, which entails keeping tabs on potential threats and the efficacy of any measures taken to counteract them.
How is risk management appropriately applied to the systems development life cycle (SDLC)?
Risk management is applied effectively to the systems development life cycle (SDLC) by integrating security activities physically and conceptually into the SDLC policy and guidelines instead of retaining them in a separate document or security life cycle. By incorporating it into the SDLC procedure, risk management is no longer an afterthought but an essential component of the process. Planning, analysis, design, development, testing, implementation, and maintenance are all stages of the software development life cycle (SDLC). Potential threats to creating and maintaining IT systems may be identified and countered if risk management is used at each stage.
Risk management in the planning phase includes searching for, and possibly rating threats to the planned IT system and evaluating its viability. Risk management in the analysis and design stages should focus on discovering weak spots and building safeguards to plug them (Acharya & Sahu, 2020). The efficacy of the security measures should be tested and validated throughout the development and testing stages as part of the risk management process. To guarantee the sustained effectiveness of security measures during the deployment and operations phases, they must be continuously monitored and updated as part of the risk management process. Organizations may better ensure the safety of their IT infrastructure and lessen the chance of data breaches and other security events by integrating risk management into the software development life cycle (SDLC).
When Is Risk Management Most Appropriately Integrated into the SDLC?
Including risk management within the SDLC from the beginning of the planning process is recommended. At this phase, businesses may evaluate the proposed IT system’s practicability and identify any associated risks. Risk management activities should be included in the SDLC process from the beginning so that firms can proactively detect and address threats to their IT infrastructure (Pilliang & Munawar, 2022). This makes risk management an inherent software development life cycle (SDLC) element rather than an afterthought.
Risks That a Systems Analyst Should Be Aware Of
During the Software Development Life Cycle (SDLC), systems analysts must be alert and watchful for potential threats. One risk is the possibility of data breaches or other security events that jeopardize sensitive information and ruin the organization’s image. Project delays or failures may pose a threat since they can lead to increased costs, missed deadlines, and decreased support from critical stakeholders (Jimoh et al., 2022). The user experience and output may also suffer if the system performs poorly or lacks necessary features. Systems analysts may successfully limit and manage risks by recognizing them early on and formulating and implementing suitable mitigation methods.
Systems analysts should design and implement suitable security measures, including access restrictions, encryption, and monitoring tools, and perform frequent security audits and assessments to reduce the likelihood of security events. Systems analysts should ensure the project is on track and satisfies stakeholders’ expectations by creating a precise strategy, defining the project’s objectives and timeframe, and constantly contacting them (Jimoh et al., 2022). Systems analysts should do extensive testing, and quality assurance, including load testing, usability testing, and functional testing, to verify the system satisfies user requirements and performs as expected.
Selecting the most appropriate transition strategy is crucial to implementing a new salesforce management system. Direct cutover, parallel operation, pilot operation, and phased operation are the four most prevalent changeover methods. There are positives and negatives to every one of these strategies. In this presentation, we will discuss the advantages and disadvantages of each technique.
During a direct cutover, the old system is shut down, and the new one is activated at a predetermined moment. Although it is the simplest and least expensive method, it carries the most significant risk (Avgerou, 2019). The most significant threat is that the switchover to the new system will fail, leading to a total breakdown of operations. For simple, low-risk systems, the direct cutover method works well.
Operation in Parallel
While transitioning from one system to another, the parallel operation allows both systems to function simultaneously. This method enables a comparison of the two systems’ outputs, which helps locate anomalies and verify the new system’s correctness (Avgerou, 2019). This method, however, requires extra resources to maintain both systems throughout the transition period and is more expensive and time-consuming than a direct cutover.
Pilot operation is transitioning to a new system in which a subset of users test the system before the system is introduced to the rest of the company. This method enables a smooth transition to the new system, and the input from the pilot users may assist in uncovering any possible problems before the technology is widely deployed (Avgerou, 2019). But, training the pilot users takes more time and money, and there’s a chance that they don’t accurately reflect the demands of the whole firm.
Phased operation is a method of transitioning to a new system that involves progressively introducing new features and capabilities to the existing system. The risks involved with installing a new system may be mitigated using this method, enabling a more controlled and systematic transition (Avgerou, 2019). This method, however, might be more expensive and time-consuming than others since it requires testing and validating each module or function individually before being released.
In conclusion, there are advantages, disadvantages, benefits, costs, and dangers associated with each transition method. Direct cutover is the cheapest but most dangerous option; hence, it should only be used for simple systems. Parallel operation is more expensive and time-consuming, but it allows for comparing the results from the two systems. The pilot operation method provides a more gradual transition to the new system, but educating the pilot users takes more time and money. The last option, phased operations, provides for a more orderly and gradual changeover, albeit at the expense of increased expense and time. The company’s upper management should carefully consider the benefits and drawbacks of each method before settling on the one that would work best for the salesforce management system.
Acharya, B., & Sahu, K. (2020). Software Development Life Cycle Models: A Review Paper. International Journal of Advanced Research in Engineering and Technology (IJARET), 11, 169-176.
Avgerou, C. (2019). Contextual explanation: Alternative approaches and persistent challenges. MIS Quarterly, 43(3), 977-1006.
Jimoh, R. G., Olusanya, O. O., Awotunde, J. B., Imoize, A. L., & Lee, C. C. (2022). Identification of Risk Factors Using ANFIS-Based Security Risk Assessment Model for SDLC Phases. Future Internet, 14(11), 305.
Pilliang, M., & Munawar, M. (2022). Risk Management in Software Development Projects: A Systematic Literature Review. Khazanah Informatika: Jurnal Ilmu Komputer dan Informatika, 8(2).