ContemporaryIssues in Security Management
Identifya method of budgeting and differentiate its merits and deficiencies
Zero-basedbudgeting is a budgeting technique whereby each spending must bejustified for every budget cycle. In this case, when an organizationstarts a budget procedure, it has to begin from zero. Each departmentis required by the management to request for finances through adetailed plan depicting what each allotment of funds will be utilizedfor and what gains the firm will obtain from it. Zero-based budgetingrequires the company to estimate and validate their projected budgeteach period (Tilanus, 2012). Advantages of Zero-based budgetinginclude it results to efficient allotment of resources since it isbased on the needs and benefits. Also, it compels managers to developcost-effective approaches to enhance operations as well as boostingcommunication and coordination within the firm, as the employees worktogether to come up with a detailed budget plan. Additionally,zero-based budgeting determines and eradicates wasteful and outdatedoperations which translate to high productivity. Moreover it helpsthe organization to identify opportunities of outsourcing.
Onthe other hand, demerits of Zero-based budgeting includes thefollowing the process is time –consuming hence makes it difficultto identify the decision units and packages. This is because moremanagers are involved in the process thus introducing communicationchallenges. It adds up to the total costs of the organization in thattraining of the staff is mandatory for the process to be implementedsuccessfully. Also, difficulties may crop up in the determination ofappropriate performance procedures and prioritization measures(Tilanus, 2012).Additionally, inadequate information in some sectorsmakes ranking difficult.
Howto would defend the security department`s budget to upper management
Theworld of IT is transforming speedily such that the organizationsrequire the security department to perform a lot with a smallersecurity budget while at the same time expected to renovate theentire department. In return, the IT personnel needs to defend thesecurity department budget since as IT transforms, security variesand new perils emerge that they will be required to deal with. Hence,while supporting the budget, one needs to explain funds for thefollowing four aspects: Strong security standpoint, incident responsepreparations, C-level information security expert and lastly theconsultants to maintain data breach remediation. The budget shouldinclude the costs of having a reliable security standpoint as well asconsultants when required.
Dueto the advancement in technology, companies are at risk of crimessuch as cybercrime whereby malicious individuals are hacking thebusiness’s information. For this reason, the budget has to includecosts that defend the firm from these malicious acts to maintain itsreputation. Also, security budget is an analysis of comprehensivebill of resources that are required to execute the security program.These materials include individuals, equipment, training, maintenanceas well as cloud computing procedures like software. All theseelements fit into a category whereby it is either a capitalexpenditure or an operating expense such as individuals and theirwages. Additionally, in the process of defending to the topmanagement, security personnel needs to explain that the securitybegins with a baseline whereby there is a need to perform aninventory of all equipment, employees as well as the resources of theorganization which adds up to the security bills. Also, metrics haveto be applied to identify the number of events instigated against theorganization that was threats versus the various alerts and sensorsactions logged.
TilanusC. (2012) Quantitativemethods in budgeting,Springer Science &Business Media