Newsletter

The Four Stages of Cyber Risk Management

Although eliminating cyber-risks completely may be impossible, a comprehensive cyber risk management strategy can help address your organization’s critical security gaps, threats and vulnerabilities, reducing overall risk.

THE FOUR STAGES UNVEILED

Risk Identification

Recognize vulnerabilities susceptible to cyberthreats
Conduct a thorough risk assessment
Consider internal and external factors
Classify assets based on importance and sensitivity

Risk Assessment and Analysis

Evaluate identified risks for potential impact and likelihood
Analyze consequences and assess the probability of occurrence
Estimate financial, operational and reputational impact
Prioritize risks based on significance to the organization

Risk Mitigation and Control

Develop strategies to mitigate identified risks
Implement controls to reduce likelihood and impact
Enforce cybersecurity policies and procedures
Conduct regular assessments and address gaps

Monitoring and Review

Continuously monitor risk mitigation measures
Adapt the plan to evolving threats
Keep an eye on any deviations from the normal
Regularly review and update the plan

Need help implementing a cyber risk management program?

info@frankel.technology | 402-963-4340

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