Risk Managment Plan Component Assignment Example | Topics and Well Written Essays - 2000 words

Risk Managment Plan Component - Assignment Example There are some information risk controls that are designed through other policies and plans. These controls apply to all information, whether in electronic, paper, portable devices or in other forms, to ensure the Flayton Electronics information related risk is managed appropriately. (b) All employees of any entity within paragraph (a) above; for the purposes of this document, "employees" includes employees, agency workers, consultants and contractors, irrespective of their location, function, grade or standing. * such entities are likely to be property owning vehicles with a related Flayton Electronics loan which is in default and where Flayton Electronics has current and unilateral enforcement rights but does not have legal ownership/control. The principles stated in the Company IRM Policy are elaborated in this Company IRM Plan document. Where the policy document states ‘what’ principles must be followed, this plan indicates ‘how’ the controls must be implemented. All Flayton Electronics businesses are required to implement this Plan, but may extend (add) requirements if appropriate. This section of the Company IRM plans, aims to set out the minimum baseline plans which apply to the classification and handling of information assets, in all formats or media, created or received by Flayton Electronics (or on its behalf) in the performance of business activities. Information Classification is the process of identifying and classifying information assets to ensure that they are handled, distributed, stored and disposed of in accordance with their criticality and sensitivity. A failure to classify and handle information assets correctly could lead to potential data leakage events and ultimately regulatory fines, reputational and financial damage (Wood-Harper and Avison, 1990). Businesses must educate employees on how to use the Flayton Electronics classification scheme to