Develop an IT governance strategy for an organization.
Organizations that you work for will often apply an IT governance framework such as COBIT or ISO 27001, or one of the others that are available. These frameworks provide guidelines for IT governance in the organization and offer guidelines for building a governance system. In this unit, you will apply the ISO 27001 Information Security Management System (ISMS) framework to begin outlining a governance strategy for an organization.
Select an organization that you would like to develop an IT governance strategy for, using ISO 27001, Information Security Management System (ISMS). You can find ISMS on the Internet or in this unit’s reading. The organization should be one you are familiar with from having worked there.
In your paper, include the following:
Define and discuss the ISO 27001 Information Security Management System in terms of the Deming Cycle of continuous improvement of Plan-Do-Check-Act (PDCA)
Brief description of the organization and type of business engaged in.
High-level information security policy that defines management’s overall objective for information security as it relates to business requirements and relevant laws and regulations.
Information security direction for the organization
Information security objectives for the organization
Information on how the organization will meet contractual, legal, and regulatory requirements
A statement of commitment to continuous improvement of the ISMS.
High-level risk assessment (for purposes of this paper, discuss the top 3–4 risks only)
Define a risk management framework that will be used
Identify risks and describe the risk
Analyze and evaluate the risks in terms of severity and impact
Statement of Applicability
Identify selected controls to address identified risks (again only the top 3–4 risks)
Explanation of why these controls were selected
Full Answer Section
High-Level Information Security Policy:
ABC Retail is committed to protecting the confidentiality, integrity, and availability of its information assets, including customer data, financial records, and intellectual property. We will comply with all relevant data privacy laws and regulations and implement appropriate controls to mitigate information security risks. Management will provide the necessary resources and support to ensure the effectiveness of the ISMS.
3. Information Security Direction:
- Establish a culture of information security awareness within the organization.
- Implement a risk-based approach to information security management.
- Continuously improve the ISMS through regular reviews and audits.
4. Information Security Objectives:
- Achieve a 98% success rate in preventing unauthorized access to customer data.
- Maintain a 99.5% uptime for critical business systems.
- Reduce the impact of security incidents by 50% within one year.
5. Meeting Contractual, Legal, and Regulatory Requirements:
ABC Retail will identify and comply with all relevant data privacy laws and regulations, including GDPR, CCPA, and PCI DSS. We will also adhere to contractual obligations with vendors and partners regarding information security.
6. Commitment to Continuous Improvement:
ABC Retail is committed to continuously improving the ISMS. We will conduct regular reviews of the information security policy, objectives, and controls to ensure their effectiveness. Additionally, we will conduct regular audits and penetration testing to identify and address any vulnerabilities in our systems.
7. High-Level Risk Assessment (Top 3 Risks):
- Data Breach: Unauthorized access to customer data due to a cyberattack or employee negligence. (High Severity, High Impact)
- System Outage: Disruption of critical business systems due to hardware failure, software malfunction, or cyberattack. (High Severity, High Impact)
- Denial-of-Service (DoS) Attack: A malicious attempt to overwhelm online services, causing them to be unavailable to legitimate users. (Medium Severity, Medium Impact)
8. Risk Management Framework:
ABC Retail will adopt a risk management framework based on ISO 31000, which provides a structured approach to identifying, analyzing, evaluating, and treating risks.
9. Risk Identification and Analysis:
Risk: Data Breach
Description: Unauthorized access to customer data through hacking, malware infections, phishing attacks, or social engineering.
Severity: High (Significant financial loss, reputational damage, legal penalties)
Impact: High (Loss of customer trust, disruption of business operations)
Risk: System Outage
Description: Hardware failure, software malfunction, or cyberattack leading to critical business systems becoming unavailable.
Severity: High (Loss of revenue, customer dissatisfaction, operational delays)
Impact: High (Financial loss, reputational damage)
Risk: Denial-of-Service (DoS) Attack
Description: A malicious attempt to overwhelm online services, causing them to be unavailable to legitimate users.
Severity: Medium (Potential loss of revenue, customer inconvenience)
Impact: Medium (Disruption of online operations)
10. Statement of Applicability:
A Statement of Applicability (SoA) will be developed to document the controls selected from ISO 27001 Annex A that are relevant to ABC Retail's information security needs.
11. Risk Treatment (Top 3 Risks):
Risk: Data Breach
Controls:
- Implement access controls to restrict access to sensitive data.
- Train employees on information security best practices.
- Implement data encryption for sensitive information at rest and in transit.
- Regularly monitor systems for suspicious activity.
Explanation: These controls aim to prevent unauthorized access, detect suspicious activity, and minimize the impact of a data breach.
Risk: System Outage
Controls:
- Implement a robust backup and disaster recovery plan.
- Conduct regular system maintenance and updates.
- Use redundant hardware and software components to ensure high availability.
- Monitor system performance and troubleshoot potential issues.
Explanation: These controls aim to minimize the risk and impact of system outages by ensuring