Title: The role of skills, processes and technology in information security risk management

Authors: Peace Kumah; Winfred Yaokumah; Kwame Okwabi Asante-Offei

Addresses: Department of Human Resource and Managerial Science, Business School, Knutsford University College, Accra, Ghana ' Department of Computer Science, University of Ghana, Accra, Ghana ' Information and Communication Technology Directorate, Accra Technical University, Accra, Ghana

Abstract: Managing security resources can be challenging as it is easy to apply too much, too little, or even the wrong security measures, leading to excessive spending and a failure to mitigate risk adequately. This quantitative study analyses the role of security resources (including skills, processes, and technology) in risk management. The study employed a random sampling strategy to collect data from five major industry sectors and conducted a web survey. Three multiple regression analyses were then performed to evaluate the relative significance of skills, processes, and technology in risk assessment and analysis within risk management practices. The results demonstrate that skills, processes, and technology account for 79.9% of the variation in risk assessment, 77.7% in risk analysis, and 85% in overall risk management. Skills and processes played the most significant roles in all models compared to technology. Therefore, organisations should prioritise security skills and processes to improve risk management practices. This study provides a model for examining the importance of security resource management in risk management practices, enhancing our understanding of the security resources that contribute significantly to effective risk management.

Keywords: information security; security resource management; skills; processes; technology; risk management; risk assessment; risk analysis.

DOI: 10.1504/IJBCRM.2024.142654

International Journal of Business Continuity and Risk Management, 2024 Vol.14 No.4, pp.392 - 412

Received: 29 Dec 2023
Accepted: 12 Jun 2024
Published online: 14 Nov 2024 *

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