Pass CISM Exam Guide

Performing a risk analysis is the first step when implementing a security program because it helps to identify and prioritize the potential threats and vulnerabilities that may affect the organization’s assets, processes, or objectives, and determine their impact and likelihood. Implementing data encryption is not the first step, but rather a possible subsequent step that involves applying a specific security control or technique to protect data from unauthorized access or modification. Creating an information asset inventory is not the first step, but rather a possible subsequent step that involves identifying and classifying the organization’s assets based on their value and sensitivity. Determining the value of information assets is not the first step, but rather a possible subsequent step that involves estimating and quantifying the worth of information assets to the organization. References:

Entering identified risks into the organization's risk register ensures that they are documented, tracked, assigned, and addressed. Without recording in the risk register, there’s no formal mechanism to manage, treat, or monitor the risk.

“The risk register is the central repository for tracking all known risks, their status, and treatment plans.”

— CISM Review Manual 15th Edition, Chapter 2: Information Risk Management, Section: Risk Response and Risk Register*

The information owner is the person who has the authority and responsibility for the information asset and its protection. The information security manager should contact the information owner as soon as possible after the incident has been confirmed, to inform them of the incident, its impact, and the actions taken or planned to resolve it. The information owner may also need to be involved in the decision-making process regarding the incident response and recovery. (From CISM Review Manual 15th Edition)