In this article, we will discuss if cybersecurity risk management is complex. Also, let us know and learn the various factors of cybersecurity risk management.
The Cybersecurity Risk Management Complex
Let us discuss What is the complexity of cybersecurity risk management? So cybersecurity risk management is the process of the following:
- identifying,
- assessing,
- controlling and
- monitoring
The following are the cyber risks facing an organization or its business. So information technology security is mainly responsible for Cybersecurity risk management.
Cybersecurity risk management is an ongoing process that requires continued planning and maintenance. Also, cybersecurity risk management is complex.
Why? because it requires various defined processes to be implemented. So the complexity is brought about by a lack of awareness on how to manage cyber risks.
Various Factors
Various factors challenge the implementation of the cybersecurity risk management process. What are the various factors of the cybersecurity risk management process?
The cybersecurity risk management process is mainly addressed cyber risks. This involves the following:
- identification of the various cyber risks
- assessing the identified cyber risks
- controlling the identified cyber risk
- finally monitoring to make sure that the identified cyber risks are controlled.
These are the various steps of the cybersecurity risk management process. So the complexity comes about because these steps require the involvement of various departments.
Within an organization or business.
Identification Of The Various Cyber Risks
Identifying the cyber risks requires the involvement of the IT department. The IT department will provide information on where.
Also, on how cyber attacks will be carried out.
Assessing The Identified Cyber Risks
Now when it comes to assessing the cyber risks. It requires an assessment team that includes information technology security experts.
Also, business continuity specialists and business managers. These people will come up with risk scores for every identified cyber risk.
So the higher the score, it means that there is a higher level of the likelihood for an attack to take place.
Controlling The Identified Cyber Risk
Now after assessing the identified cyber risk. It requires another team who will be responsible for controlling the identified cyber risks.
They will develop strategies for every single identified cyber risk. Moreover, these strategies are then submitted to the business continuity committee.
The one who will then approve or reject them. If they are approved then they go into action immediately.
If they are rejected, they are revised and resubmitted until they are approved. Once approved, they are put into action immediately.
Monitoring To Make Sure That The Identified Cyber Risks
Finally, it requires a monitoring group who will monitor. If any of these strategies are working or not working or how well they are working or not working etc.
Therefore, this group provides feedback to other groups within the organization. So that these groups can improve on these strategies if needed.
This is a very important aspect of managing cyber risks. Why? because if organizations do not have this kind of monitoring group.
Also, their entire cybersecurity risk management process will fail because. There is no one at all monitoring whether or not their strategies work or not work etc.
This means that there is no one at all checking whether their strategies are successful. In reducing their cybersecurity risks or not successful in reducing their cybersecurity risks etc.
This is very important for organizations because if there is no one monitoring. Whether or not their strategies are successful in reducing their cybersecurity risks.
