...Huffman is attempting to sort out complexities associated with the Benefit Elections systembeing requested. The purpose of the following documentation will address security requirements andrisk associated within the project plan of the Benefits Election System. Complexities, time consumption,and untimely errors can be curtailed with a proper plan, Positive ROI analysis, and maintaining supportof key stakeholders.Foundational ideologies Diem a necessary review of current documentation pertaining toocurrent systems and architecture within Huffman. Understanding is necessary within this review, asstakeholder perspective needs to be maintained throughout the projected project. Unclear system orsecurity requirements will need to be addressed and resolved prior to the analysis phase.The benefit election system needs to be designed and tested from an environmental point of which it will be deployed. Security requirements will need to be addressed within such documentationas: 1. Operational environment specifications 2. Diagrams specifying trust, and risk boundaries. Pertaining dataflow diagrams 3. Resource specifications, with outlined capabilities 4. Comparison of resource specifications to users of resources , being implemented withinthe set requirements. 5. Possible points of security breach by cyber attacker, with possible cyber attacker profile 6. Scenario cases of misuseThe individual with whom the project manager assigns these tasks will need to produce oranalyze these...
Words: 280 - Pages: 2
...Implications of Risk Management Information Systems for the Organization of Financial Firms Michael S. Gibson* Federal Reserve Board Abstract Financial dealer firms have invested heavily in recent years to develop information systems for risk measurement. I take it as given that technological progress is likely to continue at a rapid pace, making it less expensive for financial firms to assemble risk information. I look beyond questions of risk measurement methodology to investigate the implications of risk management information systems. By examining several theoretical models of the firm in the presence of asymmetric information, I explore how a financial firm’s capital budgeting, incentive compensation, capital structure, and risk management activities are likely to change as it becomes less costly to assemble risk information. I also explore the likely effects of the falling cost of assembling risk information on a financial firm’s organizational structure. Two common themes emerge: centralization within the firm and increased disclosure of risk information outside the firm are both likely to increase. 1 Introduction Financial dealer firms have invested heavily in recent years to develop information systems for risk measurement and management.1 These systems gather data on a firm’s risk positions and compute statistical measurements, such as Value-atRisk, to assess the magnitude of the risks faced by the firm. Increasingly, the uses of these information systems...
Words: 4467 - Pages: 18
...emeraldinsight.com/0968-5227.htm IMCS 14,3 Formulating information systems risk management strategies through cultural theory Aggeliki Tsohou, Maria Karyda and Spyros Kokolakis Department of Information and Communication Systems Engineering, University of the Aegean, Samos, Greece 198 Evangelos Kiountouzis Department of Informatics, Athens University of Economics and Business, Athens, Greece Abstract Purpose – The purpose of this paper is to examine the potential of cultural theory as a tool for identifying patterns in the stakeholders’ perception of risk and its effect on information system (IS) risk management. Design/methodology/approach – Risk management involves a number of human activities which are based on the way the various stakeholders perceive risk associated with IS assets. Cultural theory claims that risk perception within social groups and structures is predictable according to group and individual worldviews; therefore this paper examines the implications of cultural theory on IS risk management as a means for security experts to manage stakeholders perceptions. Findings – A basic theoretical element of cultural theory is the grid/group typology, where four cultural groups with differentiating worldviews are identified. This paper presents how these worldviews affect the process of IS risk management and suggests key issues to be considered in developing strategies of risk management according to the different perceptions cultural groups have. Research...
Words: 9716 - Pages: 39
...of the Currency Administrator of National Banks Management Information Systems Comptroller’s Handbook May 1995 Management M Management Information Systems Introduction Background Risks Associated with MIS Assessing Vulnerability to MIS Risk Achieving Sound MIS MIS Reviews Examination Objectives Examination Procedures Internal Control Questionnaire Purpose MIS Policies or Practices MIS Development User Training and Instructions Communication Audit Conclusion Verification Procedures Table of Contents 1 1 3 4 5 6 9 10 17 17 17 18 19 20 20 21 22 Comptroller's Handbook i Management Information Systems Management Information Systems Background Introduction A management information system (MIS) is a system or process that provides the information necessary to manage an organization effectively. MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions. The importance of maintaining a consistent approach to the development, use, and review of MIS systems within the institution must be an ongoing concern of both bank management and OCC examiners. MIS should have a clearly defined framework of guidelines, policies or practices, standards, and procedures for the organization. These should be followed throughout the institution in the development, maintenance, and use of all MIS. MIS is viewed and used at many levels by management. It should be supportive of the institution's longer...
Words: 5493 - Pages: 22
...Comprehensive Checklist for Evaluating Internal Controls ACC/544: Internal Control Systems Comprehensive Checklist for Evaluating Internal Controls As defined by the COSO framework, there are five elements that are used to explain an internal control system applied in an organization. These elements include: 1. Control Environment – The control environment is the foundation for the other four components of internal control. It outlines discipline and structure for the internal control method and consists of philosophy, ethical values, operating style, risk appetite, functioning of the board, and organizational structure (Louwers, Ramsay, Sinason, & Strawser, 2007). 2. Risk Assessment - This component evaluates the way in which an organization decides to handle the number of always-evolving external and internal risks. 3. Control Activities - This component seeks to ensure that the directives of management are carried out. These are computerized and manual and serve the purpose of preventing, detecting, and correcting errors (Louwers, Ramsay, Sinason, & Strawser, 2007). 4. Information and Communication – The information and communication component provide managers with the critical information necessary for achieving objectives. This component seeks to provide information that is timely, reliable, and relevant. 5. Monitoring – Assessing the quality of the established controls is essential to motivate continuous progress of the internal control method...
Words: 866 - Pages: 4
...Business ACC/542 Version 3 Accounting Information Systems | Copyright © 2012, 2009, 2007 by University of Phoenix. All rights reserved. Course Description In this course, students examine the fundamentals of accounting systems design. Topics include business information systems, business processes and data flows, database concepts and tools, internal control and risks, auditing the information system, and using the information system to perform audit functions. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand Norman, C. (2008). Core concepts of accounting information systems (10th ed.). New York, NY: Wiley. Hunton, J. E., Bryant, S. M., & Bagranoff, N. A. (2004). Core concepts of information technology auditing. Hoboken, NJ: Wiley. O’Brien, J. A. & Marakas, G. M. (2008). Management information systems (8th ed.). Boston, MA: McGraw-Hill...
Words: 2104 - Pages: 9
...LESSON 1 INFORMATION SYSTEMS MANAGEMENT Aims and outcomes Aims The aim of this session is to introduce and re-affirm your basic understanding of data, information and information systems. The discussions will lead you to develop an understanding of the concept of an organisation as a system. Further, you will examine the flows of decision-making and the sources of data used to make those decisions. Finally, we will consider the types of IS/IT required to support organisations at three different levels of decision-making - operational, tactical and strategic. This session provides the foundation for the remainder of the sessions. Learning Outcomes By the end of this lesson you will: • • • • Understand the use of data and decision-making at the different levels of a conceptual organisation. Understand the concepts of systems thinking to support business operations. Familiarize yourself with the vocabulary of strategy. Understand the importance of IT/IS as a strategic tool. Required Reading Chapter One – Foundations of Information Systems in Business Read through Chapter One Section 1 of the text book Read the Real World case study 2 – Lufthansa: Taking Mobile Computing to the Skies While Keeping the Mobile Workforce Connected. Student Activity Answer the questions at the end of the case study Post your answers onto the discussion board. Background Reading • • Here is the web address for a series of articles addressing knowledge and information management: http://www...
Words: 2904 - Pages: 12
...THESIS PROPOSAL INFORMATION MANAGEMENT SYSTEM (IMS) BY 2012 SUBMITTED TO ______________________ INTRODUCTION: The purpose of this essay is to address several aspects in order to understand the importance of information management systems operation, improve the quality of business service that based on information technology, and enhance the level of management of information systems. Information management System (IMS) effectiveness assessment is an important issue for the organizations as IMS have become critical for their survival. With the incorporation of Internet technologies into the business environment, it is now more difficult to measure IMS effectiveness, because Internet provides a borderless, flexible and non-stop communication medium. Assessing the effectiveness of information systems (IS) is vital for survival and competitive advantage which is a complicated subject since there are several interacting factors to consider. In the literature there are several methods...
Words: 3077 - Pages: 13
...Information Systems Management Joe Jelenek / K00121194 Information Systems Management Joe Jelenek / K00121194 Why it does not matter Why it does not matter Discuss the following statement using arguments for and against the point of view stated: Technology does not create a competitive advantage. Instead, it is the appropriate management of technology that creates a competitive advantage. Why IT does not matter The whole world of e-commerce and using IT within businesses started by inventing the personal computer and connecting the world and business with theirs customers via internet. The spending of the resources on IT by businesses was increasing more and more towards the end of the century. In the last decade it was nearly 50% of the capital expenditures. Carr (2003) says that any business has equal access to the computer technology because it is affordable and as the technology evolves and innovates, the price goes down more rapidly. That means the IT does not gives the advantage to the organization, but it’s the way organization manages the IT, how it aligns the IT with the organizations business goals that gives it the competitive edge against the competition. IT becomes just a commodity and cost of doing business. What makes it truly strategic is tis scarcity. Another area that has to be looked at when adopting IT technologies is if to use proprietary or infrastructural (open standard) technology. The proprietary technology is protecting...
Words: 1306 - Pages: 6
...of Using Information Systems in Business How are information systems transforming business and what is their relationship to globalization? Information systems allow businesses to research and develop new ways of doing business. Information systems enable automation of steps in business procedures that used to be performed manually, like making an invoice, shipping order and labels. “But today, information technology can do much more. New technology can actually change the flow of information, making it possible for many more people to access and share information, replacing sequential steps with tasks that can be performed simultaneously, and eliminating delays in decision making. New information technology frequently changes the way a business works and supports entirely new business models. Downloading a Kindle e-book from Amazon, buying a computer online at Best Buy, and downloading a music track from iTunes are entirely new business processes based on new business models that would be inconceivable without today’s information technology” (Laudon, 2009). Perhaps in the future even more manual processes like getting a back ground check will be automated as well. A business has to store, analyze, and sort through a plethora of information from many different sources such as customers, vendors, warehouse, and shipping. In or der to be efficient a business needs to stay well organized. “Information systems make it possible for firms to manage all their information, make better...
Words: 2000 - Pages: 8
... 1. A) Describe what is meant by management information systems (MIS). Include in your answer one example of how an MIS can be used. * Management information system, or MIS, broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization. In order to provide past, present and prediction information, a management information system can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support systems, people management and project management applications and any computerized processes that enable the department to run efficiently. The role of the management information system (MIS) manager is to focus on the organization’s information and technology systems. The MIS manager typically analyses business problems and then designs and maintains computer applications to solve the organization’s problems. B) Describe the factors which make a good or poor MIS using example to illustrate your answer. * A good MIS is a computer system that supplies the information in a form that managers can easily understand and use that allow them to make good business decision. Such information can reduce the risk in making decision. * A good MIS is fast because managers do not want to wait too long for the information to be displayed. * The information from the MIS must be relevant so...
Words: 529 - Pages: 3
...Accounting Information Systems Chapter 1 The Information System: An Accountant’s Perspective 3 Introduction to Transaction Processing 31 Ethics, Fraud, and Internal Control 91 Chapter 2 I Chapter 3 1 CHAPTER The Information System: An Accountant’s Perspective nlike many other accounting subjects, such as intermediate accounting, accounting information systems (AIS) lacks a well-defined body of knowledge. Much controversy exists among college faculty as to what should and should not be covered in the AIS course. To some extent, however, the controversy is being resolved through legislation. The Sarbanes-Oxley Act (SOX) of 2002 established new corporate governance regulations and standards for public companies registered with the Securities and Exchange Commission (SEC). This wide-sweeping legislation impacts public companies, their management, and their auditors. Of particular importance to AIS students is the impact of SOX on internal control standards and related auditing procedures. Whereas SOX does not define the entire content of the AIS course, it does identify critical areas of study that need to be included for accountants. These topics and more are covered in the chapters of this text. The purpose of this chapter is to place the subject of AIS in perspective for accountants. Toward this end, the chapter is divided into three major sections, each dealing with a different aspect of information systems. The first section explores the information environment...
Words: 13048 - Pages: 53
...Q1: UPS 1 What are the inputs, processing, and outputs of UPS’s package tracking system? INPUTS: barcoded label (which has all the information regarding addresses, names and other info of the packages, all of this translated into a barcode). PROCESSING: the DIAD. OUTPUT: the information about the package (which was firstly translated into a barcode) that can be read by the DIAD, and so, the DIAD displays the addresses, names, etc. 2 What technologies are used by UPS? How are these technologies related to UPS’s business strategy? The technologies used by UPS are data management technology, networking and telecommunications technology, IT infrastructure and computer hardware and software. These technologies are related to their business strategy because they will be able to be more efficient and maintain high levels of customer service, while keeping costs low (e.g. avoiding pakages to go to wrong locations). 3 What business objectives do UPS’s information systems address? This UPS's information system addresses as objectives: operational excellence, customer and supplier intimacy and, finally, a competitive advantage. 4 What would happen if these systems were not available? If these systems were not available, UPS would not be able to be so efficient, it would not serve customers that well, it would not be so productive and consequently, it would not be that competitive. Q2: FEDEX 1 List the Business Processes displayed in the Video? When a package arrives...
Words: 2226 - Pages: 9
...STAFFORDSHIRE UNIVERSITY Strategic Information Management Module Code: CE00346-6 Module Leader: Mr. Ellick YEUNG Email: ellick.yeung@cityu.edu.hk Course objectives (1) To plan IT developments that support business plans and strategies, and have a realistic appreciation of how IT resources are acquired and deployed. (2) To explore the ways in which hardware and software can be acquired and learn how to make decisions about important IT facilities management issues. (3) To acquire techniques to manage risk, plan and design counter measures to protect an organizational vital information resource. Learning Outcome (1) Able to describe, criticize and select strategic IS planning techniques that are appropriate to a given business scenario. (2) Able to evaluate, plan and communicate IS development plans to produce identified business benefits and formulate a basic strategic IS plan and decide some policies by which it would be carried out. (3) Able to critically discuss the effective use of some techniques of facilities and IT operations management and criticize and apply such measures as may be appropriate to protect the corporate information resource and maintain a secure system. Lecture and tutorial schedule Sessions Lecture 1 Lecture/ tutorial topics Course introduction Introduction to SIM 1. Competing in the Information Age 2. Identifying Competitive Advantages 3. Evaluating Industry Attractiveness 4. Choosing a Business Focus 5. Executing Business Strategies Relevant reading...
Words: 664 - Pages: 3
...Question 1: From an analytical prospective, explain how information systems relate to the way Zara runs its business. What types of systems are the most essential for this company in its current environment? Zara is a clothing company that was founded in 1975 and came from Spain. Its under Inditex group which owns other brands such as Massimo Dutti, Pull & Bear, Oysho, Uterques and many more companies. Zara grew very fast and currently in 2012 has 1,617 stores worldwide. With a large name in the fashion industry, besides that, Zara faces tough competition internationally including H&M, Benetton, and GAP. In order to keep up with the speed chic, Zara need to keep up also with the information system to run their business. Information systems is a critical tool in todays world in business and even our daily lifes, Zara uses information systems to succesfully speed up the entire value chain process. This is because it takes the retailer 10 to 12 months to develop a fashion model and see it through the point of where the goods arrive in the store, but with information systems, Zara uses quarter of that time for the whole process. Besides that, Zara achieves this by using information systems in their stores to provide the design team innovative ideas. In a way Zara’s success could be also attributed to their information system tools employed at their production level. A designer checking for sketches with associates to market specialists, all the way to cross-functional...
Words: 2489 - Pages: 10
