Internet Of Things: Risk Factors And Mitigation Strategies

Risk Factors in Internet of Things

Organization overview 

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Gigantic organization is well known organization which helps in design of various web services and solution for large number of customers. The main notion of the organization is to provide service to various SMEs. The head quarter of this organization is based in Sydney, Australia. The other two offices of this organization is located in Brisbane and Melbourne. In the last 3 years the organization has grown a lot has a capacity of 115 employees.

Background of project 

In recent times the concept of the internet of things can be considered as one of the technology which is playing a very vital role which is directly altering the framework of the technology. It can be stated that there are different forms of the aspect relating to the technology which can be included into the working of the organization. In the prospective of the organization they can gain different types of advantage from the concept so that they can alter their external as well as internal working. In the concept of any technology there would be certain risk factor involved into the concept. In the internet of things there are certain risk factor oriented which would be involved into the working of the technology when implementation within the framework of the organization. There is certain risk factor of risk which can directly affect the customer and the client which are involved into the working. On the other hand, it can be stated that there is different advantage sector which can be implemented into the working of the concept due to the fact in recent times the implementation of the technology is widely adopted by the organization in the different sector of the involvement of the technology (Bromiley et al., 2015). The overall framework of the organization can be altered with the implementation of the technology.

Risk assessment of the project 

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The main consideration of the report is to take into consideration different aspects which is related to the working of the technology which is related to the internet of things. The main focus would be on the sector of the risk factors which can be included into the working and relating to the risk the mitigation plan is also explained which would be securing the overall working which is related to the concept.

Fig 1: Risk management process

(Source: Agca et al., 2016)

Key threat agent

Mitigation Strategies for Internet of Things

Threats in different types or form of tech ology can play a very important role which can directly impact the overall working which is included into the concept. In majority of the cases it can be seen the adaptation of the concept of the internet of things is not adopted due to the factor of the risk which is involved into the concept. In the sector of the working of the technology there can be different types of risk factors involved into the concept of the working. Few of the ley threat factors which can be stated here in context of the domain are stated below:

  • Data: The threat which is related to the data can be considered as one of the most important factor which can be taken into consideration. In relation to this it can be stated that there are different types of intruder activity which is related to the working of the data which is saved in the concept of the technology. The intruder mainly focusses on the aspect of generation of a sequence of activity which can be directly linked to the aspect of the controlling of the data which is stored in the concept. The data can be considered as one of the most important factor which can be directly alter the factor of the success of the organization.
  • Access control: in the concept of the internet on of the most factor which can be stated here is the access of the data. It can be seen that different types of unauthorized person directly indulge into the concept and as a result of which it directly alters the sector of the quality of the data which would be included into the concept. It should be a concern area that the access is only given to authorized user.
  • Quality of the data: The internet of things can be stated as a technology which interact with the help of the sensors. So that there is no problem seen in the operation which is related to the concept. The data which is generated from the devices should be proper so that there are no misleading data found within the working of the concept.
  • Linkage problem: Due to the factor that the sector of the implementation of the technology is related to the aspect of the interaction which is provided from the end of different devices. The linkage aspect which is related to the concept can be stated to be very much important (Agca et al., 2016). If there are any type of problem faced with the linking aspect, it can be concluded that the overall working of the concept would be altered. If there are linkage problem, it can involve security implication due to the factor that the system would be liable to be attacked and generated a loop of data which can be retrieved from the system.

Figure 1: (RISE OF MALWARE ACTIVITY)

(SOURCE: Ho et al., 2015)

Risk assessment matrix 

Risk Name

Likelihood

Impact

Rank

Strategy for treatment

Data

2

5

10

Transfer and avoidance of risk

Linkage problem

3

5

9

Avoidance of risk

Access control

5

4

8

Avoiding risk

Quality of data

2

4

10

Mitigation of risk

Mitigation of the risk

This section majorly deals with the aspect of the mitigation of the problem which is related to the different devices which are seen in the concept of the internet of things. One of the factor which can be stated in context of any technology is that identification of the risk factor is very much important. If the detection of the risk is done in a proper time it can directly lead to the factor of the implementation of the technology. Some of the factors which can be related to the concept of the mitigation of the risk factor are stated below:

  • Data: the security of the data should be given one of the most important sector of operation due to the factor that it can be stated that if the data is altered to granted access it can directly impact the working of the overall system (Chance & Brooks, 2015). One of the point which can be stated here is that the entry point of the data should be restricted. This would be beneficial in the implementation phase that no abrupt data would be entering into the system and making the system vulnerable.
  • Access control: The aspect of the access control can be directly being related to the aspect of the security of the data which would be prevailing into the system. An access control mechanism should be implemented which would be making the data kept secured from the activity which are related to the intruders (Ho et al., 2015). The concept would be directly securing the overall data which would be persisting into the system.
  • Linkage: The aspect which is related to the concern of the linkage can be directly be related to the aspect of the control of the data and the data which is generated from the different devices which are linked together for the aspect of the controlling of the system. It can be stated here that in the sector of the internet of things which is linked with the aspect of the health care it can be stated that the data is very much crucial and it has to be obtained in real time. The area of the data which is retrieved can be stated to be very much sensitive due to the factor that it can indulged different operational aspect related to the patient.

Figure 2: (PROTECTION MECHANISM)

(SOURCE: Ho et al., 2015)

Impact on the system

The security implications which are stated in the report can have adverse implication in the system. In most of the situation it can be seen that the consequence of the attack which si generated in the system can alter the overall functionality which is related to the concept. The sector of the impact of the system can be determined in the aspect of generation of data which is not authenticated and does not involve integrity into the concept (Bessis, 2015). The authorized access of the data can impact the retrieval of the personal data from the system which would be impacting the client or the organization who would be saving their information into the system. In the section it can be taken into concern that the sector of the monitoring of the system is very much essential due to the factor that it would be widely important which would be detecting difference types of intruder activity into the system. This process would also be beneficial in the sector of planning of the mitigation aspect so that the issue which would be faced within the concept can be mitigated so that it would not be affecting the overall execution of the different processes within the organization. It can be taken into consideration that when a technology is implemented within the working of the organization it should be taken into consideration how the system or the approach would be reacting to the different input which are given (Hopkin, 2018). It can be stated that there is different aspect of functionality which can be linked to the concept and in most of the cases external affairs are directly connected to the approach which is linked to the concept of the operation which is relating to the different activity of the organization.

Advantages of Internet of Things Implementation

Recommendation 1: The data which is stored in the system should be secured so that the integrity of the data is well maintained within the concept of the operation of the business. The intruder activity which can be involved into the concept should be altered as it can directly hamper the interaction of the data between different connected devices.

Recommendation 2: The monitoring of the system should be done occasionally so that it can be checked that every security implication which are involved into the concept are working properly.

Recommendation 3: Unauthorized access to the data should be denied so that the overall working of the system can be maintained. This concept can be directly related with the aspect of the control mechanism related to the working with the data.

Recommendation 4: Entry point of the data should be restricted so that the data without passing through a security check is not allowed to be entering into the system. This concept would be directly enhancing the aspect of the security of the data which would be involved into the concept.

The concept of the internet of things can be stated as one of the technology which is directly linked with the aspect of the operation of an organization. As stated by (Cleden, 2017) the working of the internet of things is not restricted to one particular area and it can be directly being linked to various part of the operation which is linked with the organization activity or within the common life of the people. There is different section of advantage which can be related to the concept of the operation such as the making different functional area of the organization automatic and technology oriented. One of the advantage which can be stated here in this context is that the automation aspect can be very much error free process due to the involvement of minimum human activity. According to (McNeil, Frey & Embrechts, 2015) the internet is things is directly based on the aspect of the interaction of the different devices which are connected with each other. The main functional requirement which is related to the concept can be stated as the interaction which is done between the different devices which are linked in the sequence of the network. (Honey, 2017) majorly focused on the aspect of generation of a sequence which is related to the working of the products which are linked in the concept. The data which is involved into the concept can be stated to be very much important due to the factor that the behavior of the system would be directly linked with the data which is transferred. In most of the areas it can be seen there are different types of intruder activity included into the concept. It should be taken into consideration that the intruder activity detection is done in an early stage so that it does not hamper the overall working of the technology and the system which is linked to the concept.

In recent times it can be seen that different functional area of the life of the common people are linked with the concept of the internet of things. In different sectors of implementation, different types of advantage can be directly being achieved from the implementation of the internet of things. The security implication which are majorly seen in the concept can be easily be mitigated with the proper implementation of the resources which would be securing the overall control of the system. As stated by the (Hillson & Murray-Webster, 2017). security risk which are seen in the majority of the technology can be directly be avoided if the implementation of security implications is included into the working of the technology. There is different factor of concern which is linked to the concept of operation of the internet of things which can be directly be assuring the overall working of the technology. Security implication can be stated as one of the primary sector which can be involving the proper working of the organization and the different sectors which are related to the adaptation of the technology in different types of organization.

Conclusion

The report directly puts limelight into the different concept of the internet of things when it is implemented within the working of the technology. In most of the cases it can be security implication can play a very vital role in the domain of the operation which is included into the concept. The security implications should be implemented within the concept so that the overall working of the process and the technology would be running properly. The main sector of the implementation which can be seen in the concept is the interaction of the different devices which are known as the networking devices. The concept of the internet of things can be stated as a stage of research and in the future a more dominating role by which the sector of the implementation of the technology would be widen. The focus should on the interaction of the devices so that the exchange of the data can be done in a proper manner.

References

Agca, R., Heslinga, S. C., Rollefstad, S., Heslinga, M., McInnes, I. B., Peters, M. J. L., … & Primdahl, J. (2016). EULAR recommendations for cardiovascular disease risk management in patients with rheumatoid arthritis and other forms of inflammatory joint disorders: 2015/2016 update. Annals of the rheumatic diseases, annrheumdis-2016.

Aven, T. (2016). Risk assessment and risk management: Review of recent advances on their foundation. European Journal of Operational Research, 253(1), 1-13.

Bessis, J. (2015). Risk management in banking. John Wiley & Sons.

Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), 265-276.

Chance, D. M., & Brooks, R. (2015). Introduction to derivatives and risk management. Cengage Learning.

Cleden, D. (2017). Managing project uncertainty. Routledge.

Hillson, D., & Murray-Webster, R. (2017). Understanding and managing risk attitude. Routledge.

Ho, W., Zheng, T., Yildiz, H., & Talluri, S. (2015). Supply chain risk management: a literature review. International Journal of Production Research, 53(16), 5031-5069.

Honey, G. (2017). A short guide to reputation risk. Routledge.

Hopkin, P. (2018). Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.

Lam, J. (2014). Enterprise risk management: from incentives to controls. John Wiley & Sons.

Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A. M. E., & Villanueva, P. (2014). Project risk management methodology for small firms. International journal of project management, 32(2), 327-340.

McNeil, A. J., Frey, R., & Embrechts, P. (2015). Quantitative risk management.

McNeil, A. J., Frey, R., & Embrechts, P. (2015). Quantitative Risk Management: Concepts, Techniques and Tools-revised edition. Princeton university press.

Pritchard, C. L., & PMP, P. R. (2014). Risk management: concepts and guidance. Auerbach Publications.

Wolke, T. (2017). Risk Management. Walter de Gruyter GmbH & Co KG.

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