RISK IDENTIFICATION IN A SPECIFIC GIVEN IT PROJECT

Risk Identification in a specific given IT Project

Risk Identification in a specific given IT Project

Introduction

Security is one of the biggest e commerce challenges faced by businesses on a global scale. With the proliferation of internet fraud reported by the media, identity theft and the compromise of banking and online transaction systems, consumers can be reluctant to embrace new transaction technology. It is therefore a continual challenge for authorities and businesses to raise security levels to influence consumer confidence levels. The security protocols adopted by corporations are improving but it requires a consistent and dedicated approach to win broad based consumer appeal. Established companies are always looking for new ways to attract customers online. Online promotion is an ecommerce challenge. Working out which channels, both online and offline, which marketing mix or strategy to use is the focus of a new breed of online entrepreneurs who are wired to the cognitive purchasing behavior of consumers? (Allen, Julia H. 2001, 654-78)

Internet and online security professionals deal with hacking and cracking activity on a daily basis. With new technologies emerging every day the new security challenges arise and new vulnerabilities become available that allows black hat hackers to create and execute new scripts that can cause serious problems to the whole networks. Many small-business owners assume that large corporations are far more vulnerable to internet security threats than they are. In truth, however, it's often the other way around. For example, the destructive My doom worm affected one out of three small and mid-sized businesses--but only one out of six large enterprises, according to the Internet Security Alliance, a non-profit organization that provides a forum for information security issues. It is common practice for online businesses to implement security systems as part of infrastructure that drive their business processes. The irony is that, implementation of online business security systems do not take into account the global nature of business operations, security risk factors associated with infrastructure type, its location, levels of standards and best practice upheld in managing online systems, skill set of technical and non-technical manpower, socio-cultural and economic dependencies as well as synergistic relationship of these factors. Consequently there is absence of a security risk model that effectively manages threats and vulnerabilities that emerge from the heterogeneous and hetero-standard nature of global business infrastructure. (Allen, Julia H. 2001, 654-78)

Explanation

Most new entrepreneurs have a business idea and look for resources and assistance to turn the idea into a business opportunity. Because starting an online business requires multitude of skills such as Information technology, graphics designing, content writing and marketing etc, it becomes imperative to employ human and technological resources to start a business and then keep it running smoothly. There comes the barrier of huge cost causing many smart business ideas to die before they even come into existence. On the contrary, many entrepreneurs make the mistake of putting their carts before the horse; ...