Based on scenario 4, were the activities of the risk treatment plan to be undertaken ranked appropriately?

Scenario 4: SynthiTech is a huge global Technology company that provides Innovative software solutions and cybersecurity services to businesses in various industries, including finance, healthcare, and telecommunications. It is committed to deliver cutting-edge technology solutions while prioritizing the security and protection of its clients’ digital assets

The company adopted a mode) designed to ensure efficient operations and meet the specific needs of different market segments across the world Within this structure, the company’s divisions are divided into financial services, healthcare solutions, telecommunications, and research and development

To establish a robust cybersecurity program, SymhiTech established a cybersecurity program team consisting of several professionals that would be responsible for protecting its digital assets and ensuring the availability, integrity, and confidentiality of information, advising the cybersecurity manager in addressing any risks that arise, and assisting in strategic decisions. In addition, the team was responsible for ensuring that the program Is properly Implemented and maintained

Understanding the importance of effectively managing (he company’s assets lo ensure operational efficiency and protect critical resources, the team created an inventory of SynthiTech’s assets. The team initially identified all assets, as well as their location and status. The assets were included in the inventory, which was regularly updated to reflect organizational changes In addition, the team regularly assessed the risk associated with each digital asset.

SynthiTech follows a systematic approach to identify, assess, and mitigate potential risks. This involves conducting risk assessments to Identify vulnerabilities and potential threats that may impact its assets and operations. Its cybersecurity program team tested SynthiTech’s ICT system from the viewpoint of a threat source and identified potential failures in the IC1 system protection scheme. I hey also collaborated with other divisions to assess the impact and likelihood of risk and developed appropriate risk mitigation strategies. Then, the team implemented security controls, such as firewalls, Intrusion detection systems, and encryption, to ensure protection against the Identified risks. The activities of the risk treatment plan to be undertaken were ranked based on the level of risk and urgency of the treatment.

The company recognizes that effective risk management is an ongoing process and ensures monitoring, evaluation, and continual improvement of the cybersecunty program to adapt to security challenges and technological advancements.

Based on the scenario above, answer the following question:

Based on scenario 4, were the activities of the risk treatment plan to be undertaken ranked appropriately?
A . Yes, they were ranked based on priority
B . No, they should be ranked based on the time required for their completion
C . No, they should be ranked based on their complexity

Answer: A

Explanation:

In risk management, particularly when developing and implementing a risk treatment plan, it is crucial to rank activities based on priority. Prioritizing tasks ensures that the most critical risks are addressed first, thereby minimizing potential impacts on the organization. By ranking activities based on priority, an organization can allocate resources effectively, ensuring that high-risk issues are mitigated promptly.

Reference: ISO/IEC 27005:2018 – This standard provides guidelines for information security risk management, emphasizing the importance of prioritizing risk treatment activities based on the level of risk and potential impact on the organization.

NIST SP 800-39 – This publication discusses the prioritization of risk management activities, focusing on addressing the highest risks first to protect organizational assets effectively.