Develop a framework of a Board Report that will work with a Post-Secondary Institution using ISO 31000 format.
To help develop the framework, research the topic using ISO 31000 or COSO.
It is up to you to develop a framework that will work with a Post-Secondary Institution (PSI).
List of risks for the ISO 31000 framework
1. The University experienced a fire five years ago and the loss was $5,000,000, 25% of the University was out of service for 6 months due to fire, water and smoke damage. Insurance paid for the entire building loss except for the deductible of $100,000. The University had to withdraw University entrance for 2,500 students for two semesters. The University does not purchase business interruption insurance.
2. The University has experienced 3 water losses (frozen pipes) within the last 10 years with each water claim being $500,000.
3. The University was a victim of a cyber Ware ransom attack, last year. The attacker prevented access to all of the University student records unless $500,000 in bitcoins was paid to the attacker within Seven days. The ransom was paid.
4. The university’s 3,000 computers both student and staff are all over five years old and can no longer be upgraded with security patches. The cost to replace all the computers and the software is $3,000,000. The University wants to delay purchases of these computers for two years.
5. The University employs 2000 people and each year 100 people suffer a mild to moderate work injury. On average each of these people will be off work for 10 days.
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