Implementing the right ways for the right needs is essential. That is why the cyber security risk assessment is vital. A company may now be having certain security measures. But, is it according to what the company needs?
The Pitfall
It is a snare to implement something just simply for compliance. Mere security risk measures are not enough.
Think of it this way. Imagine yourself taking self-medication just because you think it’s good for you. But unknowingly, you are having an underlying condition. Isn’t it wise to take an ‘assessment’ first? Or should we say, a ‘check-up’?
The same is true with cybersecurity health measures. It is fitting to conduct a cyber security risk assessment before anything.
Furthermore, this should be a company’s priority. Most especially today, cyberattacks statistics are into influx. Thus, it is wise to be ‘wise’ with how the company should handle this situation.
More Into Cyber Security Risk Assessment
Let us delve deeper into this. This assessment involves the identification, analysis, and evaluation of risks. This assures you that the security measures you are to implement fits what the company needs.
Why is this important? Aside from what was mentioned a while ago, there’s more into this. Because you could be wasting your company’s assets while implementing an unfit security measure.
There’s no point, or it is useless. When you are trying to defend something unlikely to occur. Or let’s say, for example, something that has only less impact on the company. You sure do not want to waste your time and resources on this.
On the other hand, there’s a possibility that you would tend to overlook the major factors of risk. It could cause a dramatic impact. Since you are unaware, and you are just confident. Because you think you are protected. When in reality, you are not.
Identifying Risks
The identification of risk is the first step of an assessment. What are the factors involved in this identification?
- Identifying your assets
- Next, is to identify the threats in connection with those assets
- Third, is to assess your vulnerabilities with those threats
It is vital to be thorough with this. Since this shall affect the whole assessment process. Identify as much as you can. This can assure you of higher risk mitigation.
Threat Analysis
The analysis follows the identification stage. Based on your identified risks, analyze the weight of its risk.
How likely is it going to impact the company? What would likely happen if an attack occurs with this? What parts of the business will be highly affected?
Again, a thorough analysis is needed. This is especially important since this shall connect how you are to prioritize the risks.
It is recommended to mark each threat according to severity. It could be low risk, to medium risk, and high risk.
Evaluation Stage
The next step is evaluation. After analyzing the threats according to prior identification, next is to evaluate.
The evaluation includes the prioritizing of risks according to its likelihood to happen. This should help you put first what’s on the high-level risk.
