Managing risk is part of every business. A risk is a major part of having a balanced business strategy, as it can help organizations reach new levels of success. Cybersecurity risks are those risks that arise from the loss of confidentiality, integrity, or availability of information or information systems and reflect the potential adverse impacts to organizational operations (i.e., mission, functions, image, or reputation), organizational assets, individuals, other organizations, and the Nation.

Cybersecurity Risk Management Framework

The success of risk management will depend on the effectiveness of the framework providing the foundations and arrangements that will embed it throughout the organization, at all levels. The framework ensures that information about risk derived from these processes is adequately reported and used as a basis for decision making and accountability at all relevant levels at the organization.

Cybersecurity Risk Assessment Methodology

A Cybersecurity Risk Assessment Methodology typically includes:

• The Cybersecurity Risk Assessment process (process of identifying, estimating, and prioritizing cybersecurity risks)
• An explicit risk model, defining key terms and assessable risk factors and the relationships among the factors;
• an assessment approach (e.g., quantitative, qualitative, or semi qualitative)
• an analysis approach (e.g., threat oriented, asset/impact-oriented, or
  vulnerability-oriented), describing how combinations of risk factors are
  identified/analyzed

Our cybersecurity risk assessment framework and methodology is flexible enough to be adopted by large and small organizations across all sectors, government and private.

Benefits of Concrete Cyber Security Risk Management

• Brings competitive advantage through an increase in trust that will improve the company’s reputation for better sales results.
• Lowers the chances of a damaging Cybersecurity security incident. It will help you understand your risks and what you need to do to avoid a breach.
• Gives you the visibility and confidence to make better business decisions.
• Can save money through more efficient controls, more effective architectures and appropriate levels of protection.
• Cybersecurity Risk Management includes business continuity, keeping the business going in unforeseen circumstances or emergencies.
• Understanding and managing your risks brings peace of mind – you can be confident that you have taken due care and diligently exercised Cybersecurity risk management in accordance with your business requirements.

Want to find out more?

To understand more about our engagement in Cybersecurity Risk Management Framework & Methodology Document development, speak with us today.

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