Question

CASE STUDY

The threat of cyber espionage and similar attacks present a great danger to many organisations, particularly those that embrace the use of modern technology to enhance efficiency. Although new off-the-shelf applications for enterprise resources planning (ERP) and management provide higher availability and better service, they are often customised, that can leave some scope for security gaps. While organisations have put in place tight security measures, malicious end users use security loopholes found in various systems to commit common cybercrimes such as denial of services, web hacking and defacement, malware, spam and phishing. The Supply Chain Management System (SCMS) is no stranger to such cybercrimes and certainly requires an Information Systems (IS) Security Framework in fighting off malware attacks.

Deliverable:

Assuming the role of Chief Information Officer, prepare a position paper on the benefits of implementing the COBIT 5 Framework in the reduction of risk of Cyber Attacks on SCMS and ERP systems. (1000 words)

Answer 1

Implementing the COBIT 5 Framework mitigates cybersecurity risks by establishing robust governance and control processes, thereby enhancing the security of SCMS and ERP systems. It addresses human factors, technological vulnerabilities, and enables coordinated teamwork to provide holistic protection against cyber threats.

Step-by-step explanation:

The benefits of implementing the COBIT 5 Framework in reducing the risk of cyber attacks on Supply Chain Management Systems (SCMS) and Enterprise Resources Planning (ERP) systems are significant. As organizations embrace modern technology to improve their efficiency, they also expose themselves to increased risk of cyber threats, such as cyber espionage, denial of services, web hacking and defacement, malware, spam, and phishing. A comprehensive strategy like COBIT 5 provides a scalable and flexible framework that can help organizations manage and mitigate these risks.

COBIT 5 ensures the establishment of strong governance and control processes that are critical for identifying, managing, and significantly reducing cybersecurity risks. The adoption of COBIT 5 helps organizations maintain the quality, integrity, and reliability of information systems through a structured approach that aligns IT goals with business objectives. This includes practices for continuous monitoring, proactive risk management, and incident response capabilities that can thwart potential security breaches before they cause substantial damage.

Real-world incidents such as the massive data breaches faced by companies like Target and JP Morgan highlight the critical need for robust information systems security. Such breaches not only impact millions of individuals but also underscore the importance of a vigilant security posture and the adoption of frameworks like COBIT 5 that can coordinate efforts across various levels of an organization. By addressing human factors, technological vulnerabilities, and the need for organized teamwork, COBIT 5 provides a holistic approach that can prevent security lapses and protect organizations against cyber threats.

In summary, COBIT 5 is not just a defensive strategy; it also provides a strategic value-add by ensuring that IT infrastructures are secure, resilient, and aligned with business goals, thereby fostering trust and confidence in technological systems necessary for the smooth running of contemporary businesses and services, including SCMS and ERP systems.