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In this our un-ending trending globe of information technology where the hyper changes in technology and information systems cannot be actively measured due to the fact that the ratio of increase in this industry is intellectually overwhelming. Almost every deal of our daily life is automated ranging from taking a train to Kuala Lumpur, booking a flight for holidays or renting a book from a library. It can be seen that the automation of this activities has brought allot of changes in our life whilst leaving a lot of portholes in which if not tackled may result to an impending hazard, in this phase the introduction and usage of risk analysis/management becomes of vital importance since it plays a vital role in sniffing and possibly giving a lasting solution to an impending problem.

DEFINITION the autonym of risk by an online dictionary is said to be likelihood, while risk is the chance of something going wrong along the line or a hindrance that would not enable a desired goal achieved, but in the case of information technology, risk is the product of the likelihood of an invent occurring and the impact that event would have on an information technology asset PURPOSE OF THE RISK MANAGEMENT PLAN The purpose of this risk management plan is to know the risk that are involved in banking management system as security is one of the topmost priorities of a banking management system since they deal with great deal of information and data s. Risk Management is the process of recognizing, evaluating, finding solution, supervising, and reporting risks. This Risk Management Plan defines how risks associated with the banking management system will be identified, analyzed, and managed. It outlines how risk management activities will be performed, recorded, and

monitored throughout the lifecycle of the project and provides templates and practices for recording and prioritizing risks.

BUSINESS ASSETS In the banking industry making profit is their sole priority because it is a business. but what makes up the strength of a bank is their assets may bank has its assets which from my research are categorized into bank liabilities and bank assets on the side of the liabilities this comprises of the capital or share capital contributed for starting the bank, reserve money which is undistributed profit accumulated, while the deposits are the money owned by the customers and this are liabilities to the bank even though they use this money to run their day to day business. the bank assets now comprises of cash deposited, bills and securities acquired at discounted price, bank investments, loans it has sectioned and also interbank cash which are cash payed by them in favour of other banks and when bank provides loans and advances this are also known as the banks assets. These assets are of great importance to the banks because they use these assets to run their daily businesses on stocks, forex and in counter transactions.

INFORMATION SYSTEM ASSETS Above are some list of information system assets relevant to the banking system and the role they play in terms of their profitability to the bank, in my own words I could say the information system assets plays more role in the system because everything in combination are information system ranging from the banks human resources to the banking software source code.


PROCESS I and my team member had a brain storming session detailing the risk that might arise in this banking management system and in this view we took active steps to ensure that the risk associated is actively identified, while ensuring proper analysis which in turn give a good insight of what the management of this risk would incur throughout the lifetime of the system. PROBLEM IDENTIFICATION 1. In the system according to the context diagramme, it shows some security risk due to the fact that in this jet technology age of ours, hacking or internet penetration which is the order of the day the login and password which are in parallel gives a security concern because if this is brute forced it could yield to the hackers request therefore giving access to the system. The risk mode for this is above 70% meaning it is a high risk. 2. The user interface complexity is one that can make users to relent the the system use.

PROBLEM SOLUTION 1. The system for proper security measures should not have the login and password in a parallel order; it should be such that after inputting the username it verifies it with the system and return back for the password, in this case it would be almost impossible for the system to be hacked. 2. Since the user interface is not user friendly the bank should implore the services of professional to take into notice the end user wants and in this stance analyze and implement into the system for a better user experience

Qualitative Risk Analysis In this assignment, I and my team members assessed the identified risk using the following approach for an effective result.

Probability High higher than <70%> likelihood of occurrence Medium Between <30.1%> and <69.9%> likelihood of occurrence Low under <30%> likelihood of occurrence

Impact High when the risk is at its optimum its impact is always severe resulting in loss of reputation and money Medium this could hamper with the banks integrity Low Risk that has relatively little impact on cost, schedule or performance Impact H M L L M H Probability

Risks that fall within the RED and YELLOW region will have risk response planning which may include both risk easing and a risk unforeseen event plan.