Which approach involves continually balancing the protection of agency information and assets with cost considerations?

Which approach involves continually balancing the protection of agency information and assets with cost considerations?

• A. Risk Management Approach
• B. Change Management Approach
• C. Configuration Management Approach
• D. Software Development Life Cycle

Answer: (A)

The chosen answer represents the concept of a Risk Management Approach, which focuses on the continuous balancing act between safeguarding an organization’s information and assets while also being mindful of costs associated with those security measures. This approach is inherently dynamic; it involves assessing potential risks to information security and determining the optimal strategies to mitigate them without incurring costs that outweigh the benefits. In implementing a risk management strategy, you evaluate threats and vulnerabilities to critical information and infrastructure, analyze the potential impact of security breaches, and prioritize resources effectively. This not only ensures the protection of vital agency assets but also aligns security spending with organizational goals and financial constraints. The other approaches, while valuable in their specific contexts, do not inherently focus on balancing security with cost considerations in the same comprehensive way. The Change Management Approach deals with managing transitions in processes or systems but does not specifically measure security against expenses. Configuration Management is centered on maintaining the integrity and consistency of a system’s performance over time, and the Software Development Life Cycle covers the phases of software development but does not engage in the ongoing assessment of risk versus cost regarding information security. Thus, the Risk Management Approach is most aligned with the holistic evaluation of security against financial implications.

The chosen answer represents the concept of a Risk Management Approach, which focuses on the continuous balancing act between safeguarding an organization’s information and assets while also being mindful of costs associated with those security measures. This approach is inherently dynamic; it involves assessing potential risks to information security and determining the optimal strategies to mitigate them without incurring costs that outweigh the benefits.

In implementing a risk management strategy, you evaluate threats and vulnerabilities to critical information and infrastructure, analyze the potential impact of security breaches, and prioritize resources effectively. This not only ensures the protection of vital agency assets but also aligns security spending with organizational goals and financial constraints.

The other approaches, while valuable in their specific contexts, do not inherently focus on balancing security with cost considerations in the same comprehensive way. The Change Management Approach deals with managing transitions in processes or systems but does not specifically measure security against expenses. Configuration Management is centered on maintaining the integrity and consistency of a system’s performance over time, and the Software Development Life Cycle covers the phases of software development but does not engage in the ongoing assessment of risk versus cost regarding information security. Thus, the Risk Management Approach is most aligned with the holistic evaluation of security against financial implications.