Importance of information management

The Event Budget Predicting the financial outcome of an event The event budget is a projection forecast of the income and expenditure that the event will incur based on plans made and information gathered. The preparation of a budget is an essential part of event management. It is fundamentally important that Event Directors are able to predict with reasonable accuracy whether the event will result in a profit, a loss or will break-even. This is achieved by identifying and costing all probable expenditures and by totaling all expected revenues income.

Importance of information management

In particular, FISMA requires the head of each agency to implement policies and procedures to cost-effectively reduce information technology security risks to an acceptable level. Implementation of FISMA[ edit ] In accordance with FISMA, NIST is responsible for developing standards, guidelines, and associated methods and techniques for providing adequate information security for all agency operations and assets, excluding national security systems.

NIST works closely with federal agencies to improve their understanding and implementation of FISMA to protect their information and information systems and publishes standards and guidelines which provide the foundation for strong information security programs at agencies.

NIST hosts the following: NVD is the U. This data enables automation of vulnerability management, security measurement, and compliance e.

This framework is further defined by the standards and guidelines developed by NIST. According to FISMA, the head of each agency shall develop and maintain an inventory of major information systems including major national security systems operated by or under the control of such agency [6] The identification of information systems in an inventory under this subsection shall include an identification of the interfaces between each such system and all other systems or networks, including those not operated by or under the control of the agency.

There is not a direct mapping of computers to an information system; rather, an information system may be a collection of individual computers put to a common purpose and managed by the same system owner. Categorize information and information systems according to risk level[ edit ] All information and information systems should be categorized based on the objectives of providing appropriate levels of information security according to a range of risk levels [6] The first mandatory security standard required by the FISMA legislation, FIPS "Standards for Security Categorization of Federal Information and Information Systems" [8] provides the definitions of security categories.

For example, if one information type in the system has a rating of "Low" for "confidentiality," "integrity," and "availability," and another type has a rating of "Low" for "confidentiality" and "availability" but a rating of "Moderate" for "integrity," then the impact level for "integrity" also becomes "Moderate".

Security controls[ edit ] Federal information systems must meet the minimum security requirements. The process of selecting the appropriate security controls and assurance requirements for organizational information systems to achieve adequate security is a multifaceted, risk-based activity involving management and operational personnel within the organization.

Agencies have flexibility in applying the baseline security controls in accordance with the tailoring guidance provided in Special Publication This allows agencies to adjust the security controls to more closely fit their mission requirements and operational environments.

Importance of the Management Information System |

The controls selected or planned must be documented in the System Security Plan. The agency's risk assessment validates the security control set and determines if any additional controls are needed to protect agency operations including mission, functions, image, or reputationagency assets, individuals, other organizations, or the Nation.

The resulting set of security controls establishes a level of "security due diligence" for the federal agency and its contractors. One then determines risk by calculating the likelihood and impact that any given vulnerability could be exploited, taking into account existing controls.

The culmination of the risk assessment shows the calculated risk for all vulnerabilities and describes whether the risk should be accepted or mitigated.

If mitigated by the implementation of a control, one needs to describe what additional Security Controls will be added to the system. System security plan[ edit ] Agencies should develop policy on the system security planning process. Procedures should be in place outlining who reviews the plans, keeps the plan current, and follows up on planned security controls.

During the security certification and accreditation process, the system security plan is analyzed, updated, and accepted. The certification agent confirms that the security controls described in the system security plan are consistent with the FIPS security category determined for the information system, and that the threat and vulnerability identification and initial risk determination are identified and documented in the system security plan, risk assessment, or equivalent document.

Based on the results of the review, the information system is accredited. By accrediting an information system, an agency official accepts responsibility for the security of the system and is fully accountable for any adverse impacts to the agency if a breach of security occurs.

Thus, responsibility and accountability are core principles that characterize security accreditation. It is essential that agency officials have the most complete, accurate, and trustworthy information possible on the security status of their information systems in order to make timely, credible, risk-based decisions on whether to authorize operation of those systems.

Security certification is a comprehensive assessment of the management, operational, and technical security controls in an information system, made in support of security accreditation, to determine the extent to which the controls are implemented correctly, operating as intended, and producing the desired outcome with respect to meeting the security requirements for the system.To access the new Vendor Information Pages (VIP) you must select one of the options available through AccessVA login: Veteran Small Business Owners: DS Login: Veterans (including Veterans Small Business Owners (Veteran Owned Small Business (VOSB) or Service Disabled Veteran Owned Small Business (SDVOSB) or their business representatives who are also Veterans.

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Why KM - the importance of knowledge management. Why Knowledge Management?

Importance of financial control of an event

Before we start to explore and understand the details of what knowledge management is, and how to implement knowledge management projects and initiatives, we need to first ask ourselves why we want to consider knowledge management in the first place?

The Office of Information Technologies serves as the Notre Dame's trusted partner to deliver the technology services that enable Notre Dame to offer an unsurpassed undergraduate experience and excel in research and scholarship. The recognition that information management is an investment that must deliver meaningful results is important to all modern organisations that depend on information and .

Importance of information management

Improving information management practices is a key focus for many organisations, across both the public and private sectors. This is being driven by a range of factors, including a need to improve the efficiency of business processes, the demands of compliance regulations and .

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