Cybersecurity Risk Management

Risk Identification

The first step in risk management is to identify potential threats and vulnerabilities that may affect an organization's cybersecurity.

Risk Assessment

Once the risks are identified, they need to be assessed to determine their potential impact and likelihood of occurrence. This involves analyzing the risks and their potential impact on the organization's assets, operations, and reputation.

Risk Mitigation

Once the risks have been identified and assessed, the next step is to develop strategies to mitigate or minimize the risks. This may involve implementing security measures such as firewalls, intrusion detection systems, access controls, and encryption, as well as training employees on cybersecurity best practices.

Risk Monitoring and Review

Cybersecurity risks are constantly evolving, and it is important to monitor and review the risks regularly to ensure that the organization's security posture remains effective. This involves regularly testing and auditing the security controls and procedures to identify any weaknesses and make necessary improvements.

Incident Response Planning

In the event of a cyber attack, it is essential to have an incident response plan in place. This involves defining the roles and responsibilities of key personnel, establishing procedures for detecting and responding to security incidents, and providing training and awareness to employees.

Types of Cybersecurity Risk Management Frameworks

• NIST CSF
• ISO
• DoD RMF
• FAIR