Enterprise Risk Assessment
A Risk Assessment is an evaluation of a company's procedural components of Cybersecurity. It is the cornerstone of developing a "Culture of Security" within a company.
Quantitative or Qualitative
A Risk Assessment is a quantitative or qualitative estimation of risk related to an organization’s assets and their threats. A Risk Assessment first identifies an organization’s assets, then determines the threats to those assets. From this information a control or mitigation is designed to minimize or remove the risk. The resulting value is residual risk.
Cybermode Enterprise Risk Assessment
A Cybermode Enterprise Risk Assessment will identify, estimate, and prioritize risk to organizational operations, organizational assets, individuals, mission, functions, and reputation, resulting from the operation and use of information systems. The Enterprise Risk Assessment by Cybermode covers all three tiers in the risk management hierarchy: organization level, mission/business process level and information system level. The methodology is based upon the following accepted standards:
- NIST SP 800-171
- NIST SP 800-53 rev4
- ISO/IEC 27002:2013
Companies Always Own Their Risk
A business can transfer risk, reduce risk or defer risk - but one thing is always true: A business always owns its risk. There will always be risk - the goal is to maintain risk at an acceptable level.
Purpose of a Risk Assessment
The purpose of risk assessments is to inform IT management and develop risk responses by identifying:
- The current threats to companies
- The current threats directed through companies against other companies (i.e. vendors).
- The impact or harm to companies that may occur given the potential for threats exploiting vulnerabilities.
- The likelihood that harm will occur.
Every business with a sizable IT footprint should perform one. It provides an excellent starting point from which to strengthen an organization's security posture. It identifies assets, outlines the threats against them and generates a mitigation of the threats. A risk assessment focuses an organization's resources effectively to increase its Cybersecurity posture.
Performing an Enterprise Risk Assessment along with a Comprehensive Penetration Test from Cybermode is an excellent way to cover both the technical and procedural components of Cybersecurity.
It's impossible to eliminate all risk, but if an organization reduces its risk exposure each year the probability that an adverse event will occur is extremely rare.
