Ifsm 301 discussion – risk management and business continuity

Please see the discussion assignment details below. You must use course resources, which I attached, and APA in-text/reference citations.

Complete the readings this week as well as reviewing the IT Strategic Plan, Part 2 assignment and the “IHS Risk Management Guide” (from Week 3 course content) before completing this week’s discussion.

This discussion is to help prepare you for the ITSP, Part 2 assignment.  The concepts being discussed here relate to risk management and business continuity planning from the business perspective.  In your ITSP Part 2 assignment you will discuss these topics from an IT perspective.  Provide a response to one of the following:

1. Referring to the ITSP, Part 2 assignment #4 (please see below) and the GGFRT case study (please see attached), you will identify some risks that the CIO needs to consider.  For this discussion, we will focus on risks that the business should be concerned with.  Apply what you know about the business environment and come up with and explain 3 risks related to the business environment (not IT-related risks).  Explain what impact the risk has on the business, how likely it is to occur, and how it can be prevented or mitigated.

Risk Management – (1) List and explain four (4) risks that Lance should be prepared to manage as he executes his plans. (2) What is the impact of the risk on GGFRT if not properly managed? (3) What risk management techniques can he use for each one to try to prevent and/or mitigate them (state: accept, reject, transfer or mitigate)? You must discuss specifics, related to the case study in your response.

This is a good area to do some external research – see what you can find on the web about IT project risks and risk management. (Review the document “IHS Guide to Risk Management” found under the Week 3 readings.) Complete (1), (2), (3) for each risk; list each risk separately in the format a. Risk 1, b. Risk 2, c. Risk 3, d. Risk 4, then the subsections (1), (2), (3). A source must be incorporated into this section for full credit.

2. Referring to the ITSP, Part 2 assignment #5 (please see below) and the GGFRT case study (please see attached), regarding developing a business continuity plan for GGFRT, the first step is to identify the essential business processes that sustain ongoing operations of GGFRT.  Reviewing the case study, identify 3 essential business processes.  Explain how these processes (not systems) could continue in the event of a disaster that makes their IT systems and their current buildings unavailable.

Business Continuity Planning–
 (a) List and explain the general steps Lance should take to develop a Business Continuity Plan for GGFRT so he can be sure that the most important systems will remain operational in the event of a catastrophe.
 (b) Include who should be involved in its development and their roles, focusing on the BCP (not general company roles) of each position on the BCP team: these should be specific personnel from the case study. 

(c) In addition, from the Case Study, identify what you consider the three most important systems currently in use at GGFRT along with justification of your choices.
 (d) Based on the three systems chosen in (c), explain the specific steps Lance can take to ensure those systems continue to be available for GGFRT in the event of a local catastrophe.