Cyber-risk assessment and mitigation plan execution

The Digital Innovation Hub of Western Macedonia > Cyber-risk assessment and mitigation plan execution

Cyber-risk assessment and mitigation plan execution

Description:

A process aimed at identifying, evaluating and addressing potential Cybersecurity risks within an organization’s digital environment. It involves identifying, evaluating and addressing CS risks to reduce the likelihood and impact of cyber incidents. Cyber-risk management is an ongoing process that requires continuous monitoring and improvement. Organizations should regularly reassess their cyber risks, update their mitigation strategies as needed, and stay informed about emerging threats and vulnerabilities. Continuous improvement efforts help organizations adapt to evolving cyber threats and maintain a strong cybersecurity posture over time.

More:

Risk Assessment: The first step is to conduct an assessment of the organization’s digital assets, systems, networks and data to identify potential CS risks. It involves identifying assets that are critical to the organization’s operations, as well as potential threats and vulnerabilities that could compromise their security.

Risk Identification: Cyber risks are identified based on the findings of the risk assessment. Risks may include vulnerabilities in software and hardware, insider threats, external cyberattacks, data breaches, compliance failures.

Risk Prioritization: Once cyber risks are identified, they are prioritized based on their likelihood and potential impact on the organization’s operations, assets and reputation.

Mitigation Planning: It is developed to address each risk effectively. Mitigation strategies may include implementing security controls and measures (p.e firewalls, antivirus software, intrusion detection systems, encryption, access controls).

Plan Execution: It involves implementing technical solutions, updating policies and procedures, conducting employee training and awareness programs, and other activities aimed at reducing cyber risks. Regular monitoring and evaluation of the mitigation efforts are essential to ensure their effectiveness and make adjustments as needed.

Skip to content