Cybersecurity risk assessments

Cybersecurity risk assessments help organizations understand, control, and mitigate all forms of cyber risk. It is a critical component of risk management strategy and data protection efforts.

Risk assessments are nothing new and whether you like it or not, if you work in information security, you are in the risk management business. As organizations rely more on information technology and information systems to do business, the digital risk landscape expands, exposing company ecosystems to new critical vulnerabilities.

Cyber risks are categorized low, medium, to high-risks. The three factors that impact vulnerability assessments are:

What is the threat?

How vulnerable is the system?

What is the reputational or financial damage if breached (Ransomware, Data leaks, Phishing, Malware, Insider threats,  etc.) or made unavailable?

Using this simple methodology, a high-level calculation of cyber risk in an IT infrastructure can be developed:

Cyber risk = Threat x Vulnerability x Information Value


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