Quantitative Cybersecurity Risk Assessment

Cybersecurity risk assessment

Your organization has many great security controls in place. But you wonder are you missing something? You know you need a quantitative cybersecurity risk assessment. Where should your medium-sized organization turn for an economical solution?

Even after you find a cybersecurity risk assessment solution, there are still challenges. Will your executive management and staff accept the results of the assessment? What exactly does “High” risk mean again? How do you compare this risk with other risks in your organization?

Quantitative Cybersecurity Risk Assessment

A quantitative cybersecurity risk assessment is a systematic process of evaluating risks arising from threats. There are many frameworks and methodologies for conducting such a risk assessment.

Today, many in the industry including Fractional CISO use the NIST CSF framework for evaluating an organization. It provides a flexible tool set for evaluating current state and setting a roadmap for future state.

Once the criteria for evaluation is selected, there are still many options for a cybersecurity risk assessment. How will the results be determined? Will they be qualitative “high, medium, low” or more quantitative in nature?

Many organizations get bogged down in qualitative results where it is unclear what the appropriate course of action is. What do you do when you have a medium risk? What does that mean? A far better result is arriving a conclusion that there is a 10% chance of an event occurring that will result in $1 million dollars of expected loss.

Quantitative methodology

Fractional CISO has a quantitative method for understanding your organization’s risk profile. Our risk assessment display the results in an unambiguous manner. There is no doubt on where the organization should focus to reduce institutional cybersecurity risk.

Executive management in your organization is used to responding to all sorts of risks. Our methodology measures risk in dollars and probability. By presenting the results in percentages and dollars, you can make appropriate risk based decisions.  It becomes much easier to decide what should you should remediate and in what order.

Fractional CISO follows the Douglas Hubbard’s “How to Measure Anything in Cybersecurity Risk” framework. These mathematical models allow for quantitative conclusions to vexing cybersecurity problems. We apply our extensive cybersecurity experience to enhance these models. The results are more relevant to today’s threat landscape and your operating environment.

Next steps

If you are struggling to decide which cybersecurity projects deserve investment, then we can help you solve your problem. You will find our quantitative cybersecurity risk assessment to be a valuable tool to make better decisions.

Are you interested in learning more? Then please call us at 617.658.3276 or email us at info@fractionalciso.com.