When scoping a risk assessment, assets need to be classified by:
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A. B. C. D.B.
When scoping a risk assessment, it is important to classify assets. This allows for a more systematic and structured approach to identifying and analyzing potential risks to the organization. The classification of assets helps to ensure that all assets are evaluated based on their importance and value to the organization.
The correct classification of assets depends on several factors such as the organization's size, industry, and regulatory requirements. However, the two most commonly used methods of classifying assets are based on their sensitivity and criticality or their likelihood and impact.
Option A: Likelihood and Impact In this classification method, assets are evaluated based on the likelihood and impact of a risk occurring. Likelihood refers to the probability of a risk event happening, while impact refers to the severity of the consequences of that risk. For example, a high-value asset with a high likelihood of being attacked would be classified as a high-risk asset. This classification method is useful when determining the risk level of different assets and prioritizing them for risk management activities.
Option B: Sensitivity and Criticality In this classification method, assets are evaluated based on their sensitivity and criticality to the organization. Sensitivity refers to the level of confidentiality, integrity, and availability required to protect the asset, while criticality refers to the asset's importance to the organization's operations. For example, a database containing sensitive customer information would be classified as a highly sensitive and critical asset. This classification method is useful for determining the level of protection required for different assets and identifying the impact of a potential risk event.
Option C: Threats and Opportunities This classification method evaluates assets based on the potential threats and opportunities they present to the organization. Assets that present threats may include those that are susceptible to attacks, while assets that present opportunities may include those that can be leveraged to achieve business goals. This classification method is useful when evaluating the strategic value of different assets and identifying potential risks that may affect the organization's ability to achieve its goals.
Option D: Redundancy and Recoverability In this classification method, assets are evaluated based on their redundancy and recoverability. Redundancy refers to the availability of backup systems or processes to ensure continuity of operations, while recoverability refers to the ability to restore assets in the event of a disruption. This classification method is useful when evaluating the resilience of different assets and identifying the impact of potential disruptions on the organization's operations.
In conclusion, the correct classification of assets depends on the organization's specific needs and circumstances. However, the most commonly used methods for asset classification are based on their likelihood and impact or their sensitivity and criticality.