Question $5($Marks: $20)$

Q$\mathrm{.}5\mathrm{.}1$ Explain the term risk management using a practical example. $(3)$

Q$\mathrm{.}5\mathrm{.}2$ Discuss the importance of the identification of risks and vulnerabilities to

assets in the IT risk management industry?

$(7)$

Q$\mathrm{.}5\mathrm{.}3$ In IT risk management strategies, explain why must periodic review be part of

the process?

$(6)$

Q$\mathrm{.}5\mathrm{.}4$ Within the context of IT risk management, explain the term residual risk using

examples?