- Most organizations make risk decisions informally, based on individual understanding of corporate culture or what they think is best.
- Many security professionals are put in an impossible situation – to meet the risk reduction target without a clear understanding of what that target is.
- Rarely are security risks analyzed in a consistent manner, let alone in a systematic and repeatable method to determine project risk as well as overall organizational risk exposure.
- Don’t think about threats or vulnerabilities. We cannot control what threats or vulnerabilities are out there, so to build the security program around something so unpredictable will not lead to good results.
- Rather, think about business impact – regardless of what causes it, there are certain severe business impacts we will always want to avoid, and other less severe events that we would accept up to a certain frequency. These factors can be reliably identified and provide critical insight for effective risk-based decisions.
- All risks can be quantified. Security, compliance, legal, or other risks can be quantified using our methodology.
- Consider all impact. Think about more than just informational impact – consider functional and recoverability impact as well.
Impact and Result
- Define an executive risk function.
- Determine organizational risk culture.
- Create a defensible risk tolerance level for your organization.
- Leverage quantified risk tolerance level of broader risk management activities.
After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.
Onsite Workshop: Define the Information Security Risk Tolerance Level
Onsite workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost onsite delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Assess the Risk Culture and Responsibilities
- Discuss the general business requirements and obligations towards risk.
- Understand and agree on risk responsibilities and duties.
- Define and discuss security assumptions for frequency/impact.
Key Benefits Achieved
- Clear understanding of risk language and responsibilities across the organization
- Defined risk statement and IT mandate
Define the security executive function RACI chart.
- Defined IT mandate
Assess employee and management risk culture.
- IT and Business Leadership Alignment Report
Standardize impact and risk assumption terminology.
- Information Security Risk Statement
Define risk requirements and risk frequency/impact thresholds.
- Business Leadership Communication and Reporting Plan
Module 2: Define Risk Tolerance
- Use risk definitions and understanding to define micro risk tolerance.
- Define and discuss organizational risk tolerance for collective macro risk, and high-level strategy for macro risk management.
Key Benefits Achieved
- Quantified definition for micro risk tolerance
- Quantified methodology for risk impact analysis
- Understanding and management method for macro risk
Perform risk scenario assessment.
- Risk Tolerance Determination Tool
Define and discuss organizational micro risk tolerance.
Define and discuss macro risk tolerance and macro risk management methodology.