See a sample of an information security risk assessment template.
The Role Of Information Security Risk Assessment Template
Well, you should have heard much about information security. But, how about information security risk assessment?
Speaking about information security risk assessment plays a crucial part in maintaining information security.
An information security risk assessment helps in understanding, managing, and mitigating information threats in your company.
Although it does not fully get rid of threats. But it does help in mitigation. Thus, greatly affects how the risks should impact your company, for instance.
Besides, an information security risk assessment can be tricky and tedious. But oversights should never be negligent with them. Because as long as a company depends on technology, risks are inevitable.
To help you ease the job, the NIST or National Institute of Standards and Technology develops a cybersecurity framework.
This framework aims to provide companies a basis. Most especially in implementing the best practices of information security.
Important Factors To Consider In Conducting An Information Security Risk Assessment Template
According to the NIST, cyber risk assessments are used to identify, estimate, and prioritize risks.
Furthermore, these assessments further help the management to come up with data-driven decisions. Especially in properly giving responses towards risks. Since these assessments also provide a summary of the company’s overall information security state.
During the assessment, the following factors should be considered.
1. Company Assets
In the first place, you should be aware of what you are aiming to protect. For instance, consider and identify your company’s most valuable IT assets.
2. Probability Of Attack
Now, based on the assets that your company has. Consider what type of attacks your company is prone to.
For instance, consider the potential source of breaches.
Could it come from any malware, cyber attack, or human error?
In addition, of all things, secure customer information.
3. Internal & External Vulnerabilities
Moreover, an important aspect of any risk assessment is to gauge vulnerabilities. Remember, vulnerabilities may come from any source. Perhaps it is within your company environment. On the other hand, it can also be external. In whatever case it may be, be sure to specify them.
4. Consider The Implication Of Potential Attack
Considering the effects of a potential attack should help you prioritize an asset according to its risk level. There is no clear cut of measuring risks. But you can rate them by low, medium, to high risk.
5. Identify Threats
Company threats may vary from one company to another. But identification is crucial for you to raise necessary defenses.
The Benefits Of Conducting An Information Security Risk Assessment
See the following benefits your company can gain through an information security risk assessment template.
- Cost-efficient– as said, prevention is better than cure. Likewise, early detection can help you save costs from penalties, fines, and breach costs.
- Provides a basis for future assessments– since assessments are not a one-time achievement, your assessment now can help further assessments. By doing so, you can better monitor the progress of your information security.
- Reduces downtime- although risks shall still be possible, having a plan ahead can help in reducing system downtime. Thus proceed with business continuity.
