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This paper will examine various frameworks and standards for managing risk, such as ISO/IEC 271001 (ISO 27001), COBIT, OCTAVE, and ITIL. Specifically, the effectiveness of ISO 27001 at managing risk will be critically evaluated."}),"\n",(0,o.jsx)(t.h2,{children:"Risk Frameworks"}),"\n",(0,o.jsx)(t.p,{children:"There are multiple sets of standards and frameworks that exist to help organizations manage risk (Al-Ahmad & Mohammad, 2013). This range of choices can introduce complexity for businesses that need to choose between several options. This section will examine Control Objectives for Information and related Technology (COBIT), Operationally Critical Threat, Asset and Vulnerability Evaluation (OCTAVE), Information Technology Infrastructure Library (ITIL), and International Standards Organization 27001 (ISO 27001)."}),"\n",(0,o.jsx)(t.h3,{children:"COBIT"}),"\n",(0,o.jsx)(t.p,{children:"COBIT was developed and continues to be maintained by the Information Systems Audit & Control Association (ISACA) (Al-Ahmad & Mohammad, 2013). According to the COBIT documentation, the framework was created to be \u201cbusiness-focused, process-oriented, controls-based and measurement-driven\u201d (IT Governance Institute, 2007, p. 10). The framework groups IT operations into 34 processes (IT Governance Institute, 2007). One key consideration for organizations deciding which framework to use is that COBIT does not define how information security risk assessments should be performed (Al-Ahmad & Mohammad, 2013). Instead, it attempts to establish a fundamentally strong IT practice for organizations (Al-Ahmad & Mohammad, 2013)."}),"\n",(0,o.jsx)(t.h3,{children:"OCTAVE"}),"\n",(0,o.jsx)(t.p,{children:"OCTAVE consists of the following three main phases: \u201cBuild asset-based threat profiles,\u201d \u201cIdentify infrastructure vulnerabilities,\u201d and \u201cDevelop security strategy and plans\u201d (Mackita, 2019, Section 2.1). Each of these three phases contains several sub-processes for a total of eight processes (Mackita, 2019). OCTAVE categorizes threats generally into one of the following four categories: network-based, physical, system, and other (Butcher-Powell, 2006). Researchers such as Al-Ahmad and Mohammad (2013) have suggested that the OCTAVE model may be the most appropriate for larger organizations because of the level of overhead effort that it necessitates."}),"\n",(0,o.jsx)(t.p,{children:"In order to assuage this issue for smaller organizations, there are multiple variations of OCTAVE, such as OCTAVE-S and OCTAVE-Allegro (Al-Ahmad & Mohammad, 2013). OCTAVE-S was specifically designed for smaller organizations, and OCTAVE-Allegro offers a more efficient approach to information security (Al-Ahmad & Mohammad, 2013). It\u2019s almost important to note that the OCTAVE model features an emphasis on threat modeling (Mackita, 2019)."}),"\n",(0,o.jsx)(t.h3,{children:"ITIL"}),"\n",(0,o.jsx)(t.p,{children:"ITIL should not necessarily be seen as a risk management framework for information security but rather as a governance framework for IT (Al-Ahmad & Mohammad, 2013). Researchers have suggested that some of the main motivators for organizations to adopt ITIL include a desire for IT units to improve service quality, customer satisfaction, and value delivery for the business (Al-Ahmad & Mohammad, 2013)."}),"\n",(0,o.jsx)(t.p,{children:"ITIL is based on the idea that information technology business units are service providers to their respective organizations (Al-Ahmad & Mohammad, 2013). Building on this idea, ITIL provides a catalog (or library) that tries to encompass everything related to provisioning IT services (Al-Ahmad & Mohammad, 2013). Another central idea behind ITIL is that there should be a continuous focus on monitoring and improvement for all IT service offerings (Al-Ahmad & Mohammad, 2013)."}),"\n",(0,o.jsx)(t.h3,{children:"ISO 27001"}),"\n",(0,o.jsx)(t.p,{children:"ISO 27001 is known as the international standard for IT risk frameworks (Lopes et al., 2019). According to Al-Ahmad and Mohammad (2013), the purpose of this standard is to outline the requirements for operations related to Information Security Management Systems. Lopes et al. (2019) suggest that ISO 27001 helps organizations identify and eliminate threats to their information security practices. Additionally, it helps organizations truly understand the threats that they must contend with (Lopes et al., 2019). Researchers have even suggested that the ISO 27001 standard may help cost-reduction efforts related to security and non-security business functions (Lopes et al., 2019)."}),"\n",(0,o.jsx)(t.p,{children:"Some researchers have also suggested that an ISO 27001 certification is a helpful preliminary step for organizations striving to achieve GDPR (General Data Protection Regulation) compliance (Lopes et al., 2019). This is an important feature to highlight, as GDPR may be a regulatory requirement depending on the jurisdiction in which the organization operates. Organizations that must comply with GDPR may consider implementing ISO 27001, as GDPR recommends that organizations use such certification frameworks to provide assurance about their information security practices (Lopes et al., 2019). Additionally, the scope of data covered in ISO 27001 is broader than the data covered in GDPR (Lopes et al., 2019). Lopes et al. (2019) also point out that the majority of controls recommended by GDPR are also covered in ISO 27001."}),"\n",(0,o.jsx)(t.h2,{children:"Conclusion"}),"\n",(0,o.jsx)(t.p,{children:"Risk management is an important part of information security. Organizations can leverage frameworks and standards, such as the ones discussed in this paper, to help them develop strong risk management practices. ISO 27001 is a robust framework that organizations can use to enhance their risk management and information security practices; however, the effectiveness of the standard can vary depending on organizational needs. For organizations where compliance, structured security management, and international recognition are the highest priority, ISO 27001 may be an effective choice. Exploring or combining with other frameworks might yield better results for organizations seeking flexibility or integration with broader business strategies. The key lies in understanding the organization's unique needs, the industry's regulatory landscape, and the strategic alignment of security with business goals."}),"\n",(0,o.jsx)(t.h2,{children:"References"}),"\n",(0,o.jsxs)(t.p,{children:["Al-Ahmad, W., & Mohammad, B. (2013). Addressing information security risks by adopting standards. International Journal of Information Security Science, 2(2), 28\u201343. ",(0,o.jsx)(t.a,{href:"http://www.ijiss.org/ijiss/index.php/ijiss/article/download/20/pdf_5",children:"http://www.ijiss.org/ijiss/index.php/ijiss/article/download/20/pdf_5"})]}),"\n",(0,o.jsxs)(t.p,{children:["Butcher-Powell, L. M. (2006). Better Securing an Infrastru

1cture for Telework. Journal of Cases on Information Technology, 8(4), 71\u201386. ",(0,o.jsx)(t.a,{href:"https://doi.org/10.4018/jcit.2006100106",children:"https://doi.org/10.4018/jcit.2006100106"})]}),"\n",(0,o.jsxs)(t.p,{children:["IT Governance Institute. (2007). COBIT 4.1. In ",(0,o.jsx)(t.a,{href:"http://www.itgi.org",children:"www.itgi.org"}),". Retrieved September 14, 2024, from ",(0,o.jsx)(t.a,{href:"https://ucilnica.fri.uni-lj.si/pluginfile.php/76917/mod_folder/content/0/Cobit%204.1.pdf?forcedownload=1",children:"https://ucilnica.fri.uni-lj.si/pluginfile.php/76917/mod_folder/content/0/Cobit%204.1.pdf?forcedownload=1"})]}),"\n",(0,o.jsxs)(t.p,{children:["Lopes, I. M., Guarda, T., & Oliveira, P. (2019). How ISO 27001 Can Help Achieve GDPR Compliance. 2019 14th Iberian Conference on Information Systems and Technologies (CISTI), 1\u20136. ",(0,o.jsx)(t.a,{href:"https://doi.org/10.23919/CISTI.2019.8760937",children:"https://doi.org/10.23919/CISTI.2019.8760937"})]}),"\n",(0,o.jsxs)(t.p,{children:["Mackita, M., Soo-Young, S., & Tae-Young, C. (2019). ERMOCTAVE: A Risk Management Framework for IT Systems Which Adopt Cloud Computing. Future Internet, 11(9), 195. ",(0,o.jsx)(t.a,{href:"https://doi.org/10.3390/fi11090195",children:"https://doi.org/10.3390/fi11090195"})]})]})},a=Object.assign({},(0,s.ah)(),e.components),i=a.wrapper;return i?(0,o.jsx)(i,l({},e,{children:(0,o.jsx)(t,{})})):t()}var d=(0,o.jsx)(h,{});function u(e){return(0,n.withSSG)((0,i.Z)({filename:"risk-frameworks.md",route:"/posts/risk-frameworks",meta:{title:"Risk Frameworks",date:"2024/09/09",description:"The types of risks modern organizations have to contend with are increasing (Al-Ahmad & Mohammad, 2013). 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1cture, consistency, and expertise to keep our economy chugging along; however, every so often it becomes necessary for these incumbents to be challenged.",tag:"Finance, FinTech",author:"You"}},{name:"cloud-based-risk-management",route:"/posts/cloud-based-risk-management",frontMatter:{title:"Cloud-Based Risk Management",date:"2024/09/16",description:"Cloud computing has offered firms a new paradigm that has been massively adopted due to benefits such as economies of scale, low upfront effort, and the ability to scale operations (Buyya et al., 2018). However, cloud-based models do not afford benefits without risk.",tag:"Risk, Risk Management, Cloud, Security, InfoSec, ERM, OCTAVE, ERMOCTAVE",author:"You"}},{name:"co-predatory-rule",route:"/posts/co-predatory-rule",frontMatter:{title:"Electronic Innovation and the Government: A Review of the Co-Predatory Rule",date:"2024/05/20",description:"In his 2020 article titled 'Co-Predatory Rule: International Cooperation with Respect to Cryptocurrency Taxation in Russia and Belarus,' Mignano (2020) introduces the theory of co-predation to explain international cooperation.",tag:"International Relations, Policy, Taxation, Literature Review",author:"You"}},{name:"cogsec",route:"/posts/cogsec",frontMatter:{title:"A Piece of the COGSEC Puzzle: Developing Original Perspectives",date:"2025/03/24",description:"Cognitive Security (COGSEC) is a field focusing on efforts and counterefforts to influence groups of people in virtual spaces (Waltzman, 2017). It\u2019s suggested that these efforts are and will continue to be conducted by governments, academics, industry participants, etc. (Waltzman, 2017). While the field of COGSEC is focused on these issues at scale (Waltzman, 2017), it is necessary for individuals to implement practices to maintain the security of their own cognitive environments.",tag:"COGSEC",author:"You",image:"/images/cogsec.png"}},{name:"contingency-planning",route:"/posts/contingency-planning",frontMatter:{title:"Contingency Planning",date:"2024/07/08",description:"In order to effectively manage risk, organizations must prepare contingency plans to anticipate events that could potentially disrupt their mission.",tag:"Security, InfoSec",author:"You"}},{name:"coso",route:"/posts/coso",frontMatter:{title:"COSO Framework of Internal Controls",date:"2024/02/12",description:"The COSO Framework of internal control was initially developed in response to fraudulent corporate financial reporting but later evolved into a comprehensive set of controls that covers topics such as environmental, social, and governance (ESG) in addition to finance (Littan et al., n.d.).",tag:"IT, Security, InfoSec",author:"You"}},{name:"creating-deploying-shiny-apps-python",route:"/posts/creating-deploying-shiny-apps-python",frontMatter:{title:"Creating & Deploying Shiny Apps in Python",date:"2022/10/12",description:"It\u2019s finally here! Along with it\u2019s announced rebranding to \u2018Posit\u2019, RStudio also released it\u2019s alpha version of \u2018Shiny for Python\u2019. Here\u2019s how y

1ou can get started creating and deploying Shiny apps in Python.",tag:"Python, Shiny Apps",author:"You"}},{name:"crypto-and-smart-contracts-how-the-world-is-changing",route:"/posts/crypto-and-smart-contracts-how-the-world-is-changing",frontMatter:{title:"Cryptocurrency & Smart Contracts- How the World is Changing",date:"2020/05/10",description:"At this point, you have likely heard of cryptocurrencies paired with stories of wild speculation; however, there is much more to the phenomenon than just fortune-hunters.",tag:"Cryptocurrency",author:"You"}},{name:"data-types-inr",route:"/posts/data-types-inr",frontMatter:{title:"Data Types in R",date:"2022/11/17",description:"There are five basic data types in R",tag:"R",author:"You"}},{name:"database-security",route:"/posts/database-security",frontMatter:{title:"Database Security",date:"2024/07/29",description:"Most organizations need to store and access data in some form. This usually necessitates the need for some sort of database and, consequently, an information security process to accompany it.",tag:"Security, InfoSec, Databases",author:"You"}},{name:"design-thinking-hci-ai",route:"/posts/design-thinking-hci-ai",frontMatter:{title:"Design Thinking in HCI/AI",date:"2025/03/10",description:"The intersection of Artificial Intelligence (AI) and Human-Computer Interaction (HCI) is arguably becoming more important in modern society. Organizations may need to take a more intentional approach to designing AI systems with which humans interact.",tag:"AI, HCI, Design, Design Thinking",author:"You"}},{name:"disneys-relative-value",route:"/posts/disneys-relative-value",frontMatter:{title:"Disney\u2019s Relative Value",date:"2019/03/05",description:"An \u201ceconomic moat\u201d is essentially a company\u2019s protection from competitors and disruptors in the form of competitive advantages. These moats can range from access to capital to proprietary technology.",tag:"Finance, Investing",author:"You"}},{name:"eastern-western-it-implementation",route:"/posts/eastern-western-it-implementation",frontMatter:{title:"A Review of IT Systems Development and Deployment in M&A Post Implementation: The Challenge between Eastern and Western Organizational Cultures",date:"2024/05/27",description:"In his 2013 article titled 'IT Systems Development and Deployment in M&A Post Implementation: The Challenge between Eastern and Western Organizational Cultures,' Shore (2013) studies the implementation and harmonization of information technology (IT) systems cross-culturally.",tag:"International Relations, M&A, IT, Literature Review",author:"You"}},{name:"effects-of-governance-on-entrepreneurship",route:"/posts/effects-of-governance-on-entrepreneurship",frontMatter:{title:"A Review of Effects of Governance on Entrepreneurship",date:"2024/06/03",description:"In their 2018 article titled \u201cEffects of governance on entrepreneurship- European Union vs non-European Union,\u201d Rodr\xedguez-Gul\xedas et al. (2018) analyze the effect that certain governance indicators have on the creation of new businesses.",tag:"Policy, Entrepreneurship, Literature Review",author:"You"}},{name:"enterprise-risk-management",route:"/posts/enterprise-risk-management",frontMatter:{title:"Enterprise Risk Management",date:"2024/10/07",description:"Enterprise Risk Management (ERM) is an approach to risk management that takes the whole organization into consideration (Beasley, 2016). This differs from traditional approaches to risk management that place the responsibility of managing risk at the business unit level, creating potential silos within the organization (Beasley, 2016).",tag:"Strategy, Risk, Risk Management, Security, ERM",author:"You"}},{name:"erm-strategy",route:"/posts/erm-strategy",frontMatter:{title:"ERM Strategy",date:"2024/09/02",description:"This post will examine whether ERM can be integrated with strategic planning and, if so, how it can be done",tag:"Strategy, Risk, Risk Management, Security, ERM",author:"You"}},{name:"five-reasons-why-college-is-worth-it",route:"/posts/five-reasons-why-college-is-worth-it",frontMatter:{title:"5 Reasons Why College Is Worth It",date:"2020/02/03",description:"It seems as if the value of having a formal education is being thrown into question more and more often.",tag:"Education",author:"You"}},{name:"getting-familiar-with-ther-studio-source-pane",route:"/posts/getting-familiar-with-ther-studio-source-pane",frontMatter:{title:"Getting Familiar with the R Studio 

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Specifically, this paper will cover how Toyota Motor Corporation (Toyota), a Global 500 company (Fortune, 2024), is implementing AI techniques to improve its SCM practices.",tag:"AI, SCM, Literature Review, Predictive Maintenance, Forecasting",author:"You"}},{name:"linear-regression-and-business-decision-making",route:"/posts/linear-regression-and-business-decision-making",frontMatter:{title:"Case Study: Linear Regression & Business Decision Making",date:"2025/07/14",description:"This paper will examine a case study presented by Es\xf6 et al. (2017) in 'Pedigree vs. Grit: Predicting Mutual Fund Manager Performance'. The case study uses linear regression to evaluate fund manager performance based on five independent variables (Es\xf6 et al., 2017). More specifically, there are two candidates, Bob and Putney, being considered for an important role that come from different backgrounds (Es\xf6 et al., 2017). 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The prevalence of attacks on networks originating from mobile devices will also be examined. Various tools for mobile forensics will be introduced alongside different mobile operating systems. Finally, the challenges that are currently present in the domain of mobile forensics will be examined.",tag:"Forensics, Mobile Forensics",author:"You"}},{name:"ms-two-months",route:"/posts/ms-two-months",frontMatter:{title:"How I Completed Half of my M.S. in Two Months",date:"2020/02/18",description:"The choice to pursue my Master\u2019s Degree was fueled by a de

1sire to maintain a competitive edge, not to lose relevance in the job market, and to ensure I didn\u2019t get stuck in the first job I accepted after undergrad.",tag:"Education",author:"You"}},{name:"new-r-package-cryptotrackr",route:"/posts/new-r-package-cryptotrackr",frontMatter:{title:"New R Package- cryptotrackr",date:"2022/12/28",description:"cryptotrackr allows you to connect to data sources across the crypto ecosystem. This data can enable a range of activity such as portfolio tracking, programmatic trading, or industry analysis.",tag:"R",author:"You"}},{name:"penetration-testing",route:"/posts/penetration-testing",frontMatter:{title:"Penetration Testing",date:"2024/08/05",description:"Penetration testing helps ensure the security of systems by identifying vulnerabilities through simulated attacks (Antunes & Vieira, 2014).",tag:"Security, InfoSec, PenTest",author:"You"}},{name:"presidential-stock-market-returns",route:"/posts/presidential-stock-market-returns",frontMatter:{title:"Presidential Stock Market Returns",date:"2020/03/21",description:"Can the performance of U.S. presidents be measured by stock market performance? How has the market performed throughout the tenure of various presidents?",tag:"Finance, Macro",author:"You"}},{name:"r-cheat-sheet",route:"/posts/r-cheat-sheet",frontMatter:{title:"R Cheat Sheet",date:"2022/08/07",description:"\ud83e\udd18 Here\u2019s my R Cheat Sheet for the tasks I find myself performing frequently.",tag:"R, Cheat Sheet",author:"You"}},{name:"reading-files-into-and-out-of-r",route:"/posts/reading-files-into-and-out-of-r",frontMatter:{title:"Reading Files into and out of R",date:"2021/12/05",description:"Reading Files into and out of R",tag:"R",author:"You"}},{name:"risk-frameworks",route:"/posts/risk-frameworks",frontMatter:{title:"Risk Frameworks",date:"2024/09/09",description:"The types of risks modern organizations have to contend with are increasing (Al-Ahmad & Mohammad, 2013). This paper will examine various frameworks and standards for managing risk, such as ISO/IEC 271001 (ISO 27001), COBIT, OCTAVE, and ITIL.",tag:"Risk, Risk Management, Security",author:"You"}},{name:"risk-modeling",route:"/posts/risk-modeling",frontMatter:{title:"Risk Modeling",date:"2024/09/23",description:"Most, if not all, enterprise risk management (ERM) frameworks require some form of risk analysis or risk assessment. Risk modeling is a critical part of the risk analysis process for many analysts and organizations (Haimes, 2004).",tag:"Risk, Risk Management, Security, ERM, Risk Modeling",author:"You"}},{name:"robinhood-is-losing-to-webull",route:"/posts/robinhood-is-losing-to-webull",frontMatter:{title:"Robinhood is Losing to Webull",date:"2020/02/15",description:"In the battle to create a better way to invest online, Robinhood is losing to Webull\u200a\u2014\u200aHere\u2019s why",tag:"Finance, FinTech",author:"You"}},{name:"splitting-text-in-r",route:"/posts/splitting-text-in-r",frontMatter:{title:"Splitting Text in R",date:"2022/10/18",description:'If you\u2019ve worked in a spreadsheet application before, you\u2019re likely familiar with the "text-to-columns" tool. This tool allows you to split one column of data into multiple columns based on a delimiter. This same functionality is also achievable in R through functions such as the "separate" function from the "tidyr" library.',tag:"R",author:"You"}},{name:"stock-overview-keycorp",route:"/posts/stock-overview-keycorp",frontMatter:{title:"Stock Overview- KeyCorp (NYSE/KEY)",date:"2019/07/13",description:"KeyCorp is a holding company which owns the well-known retail bank KeyBank. As of today, KeyCorp is trading at $17.87. Here are a few things that investors should be paying attention to.",tag:"Finance, Stock Overview",author:"You"}},{name:"stock-overview-uber",route:"/posts/stock-overview-uber",frontMatter:{title:"Stock Overview- Uber Technologies (NYSE/UBER)",date:"2020/07/12",description:"Uber Technologies Inc (Uber) went public on May 9, 2019 and has since been a divisive topic among investors. While some believe Uber is a disruptive force in transportation, others see the business as a highly commoditized service.",tag:"Finance, Stock Overview",author:"You"}},{name:"threat-modeling",route:"/posts/threat-modeling",frontMatter:{title:"Threat Modeling",date:"2024/07/15",description:"In their 2017 article titled \u201cDoes big data mean big knowledge? KM perspectives on big data and analytics,\u201d Pauleen and Wang (2017) discuss their opinions on how the field of Knowledge Management (KM) should be involved in the process of \u201cbig data\u201d and analytics.",tag:"Security, InfoSec",author:"You"}},{name:"visualizing-ols",route:"/posts/visualizing-ols",frontMatter:{title:"Visualizing OLS Linear Regression Assumptions in R",date:"2022/09/10",description:"While most of the time it\u2019s sufficient to programmatically validate your model assumptions, sometimes it\u2019s helpful to visualize them. Here are a few quick ways you can do just that.",tag:"R, Linear Regression",author:"You"}},{name:"what-is-beta-and-how-can-it-make-you-a-more-intentional-investor",route:"/posts/what-is-beta-and-how-can-it-make-you-a-more-intentional-investor",frontMatter:{title:"What is Beta and How Can it Make You a More Intentional Investor?",date:"2020/04/28",description:"Beta (\u03b2) is the Greek letter which symbolizes coefficients. It\u2019s commonly referred to in the investment community as it essentially allows investors to \u201cturn the dial\u201d on how defensive/aggressive their portfolios are.",tag:"Finance, Investing",author:"You"}},{name:"what-we-can-learn-from-the-gdp-numbers",route:"/posts/what-we-can-learn-from-the-gdp-numbers",frontMatter:{title:"What We Can Learn from the GDP Numbers",date:"2020/04/29",description:"The advance estimates for the nation\u2019s 2020 first quarter GDP came out today. 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