What are the newest cybersecurity risk assessment and management trends?

1 Continuous risk assessment

One of the key trends in cybersecurity risk assessment and management is the shift from periodic or project-based assessments to continuous or real-time assessments. This means that IT operations managers should not rely on outdated or incomplete data, but rather collect and analyze relevant information from various sources, such as network logs, threat intelligence, vulnerability scanners, and user feedback, on an ongoing basis. Continuous risk assessment enables IT operations managers to identify and respond to new or emerging threats, as well as to measure the effectiveness and performance of their existing controls and mitigation strategies.

2 Quantitative risk analysis

Another trend in cybersecurity risk assessment and management is the use of quantitative methods and tools to measure and communicate the level and impact of cyber risks. Quantitative risk analysis involves assigning numerical values to the likelihood and severity of cyberattacks, as well as to the costs and benefits of implementing controls and mitigation strategies. Quantitative risk analysis can help IT operations managers to prioritize and justify their cybersecurity investments, as well as to compare and benchmark their risk posture against industry standards and best practices. Some of the common quantitative methods and tools include risk matrices, risk scoring systems, risk dashboards, and risk simulation models.

3 Risk-based decision making

A third trend in cybersecurity risk assessment and management is the integration of risk information into the decision making process of IT operations managers and other stakeholders. Risk-based decision making means that IT operations managers should not only assess and manage cyber risks, but also use them as a basis for planning, budgeting, allocating resources, setting goals, and evaluating outcomes. Risk-based decision making can help IT operations managers to align their cybersecurity objectives and actions with their business strategy and values, as well as to demonstrate the value and impact of their cybersecurity efforts to senior management, board members, auditors, regulators, and customers.

4 Adaptive risk management

A fourth trend in cybersecurity risk assessment and management is the adoption of adaptive and flexible approaches to cope with the dynamic and uncertain nature of cyber risks. Adaptive risk management means that IT operations managers should not follow a rigid or predefined plan, but rather adjust and modify their controls and mitigation strategies according to the changing cyber environment and business needs. Adaptive risk management can help IT operations managers to reduce the gap between their expected and actual risk levels, as well as to improve their resilience and agility in the face of cyber incidents and disruptions.

6 Human-centric risk management

A sixth trend in cybersecurity risk assessment and management is the recognition and consideration of the human factor in the risk management process. Human-centric risk management means that IT operations managers should not only focus on the technical and operational aspects of cyber risks, but also on the behavioral and psychological aspects of their employees, customers, and attackers. Human-centric risk management can help IT operations managers to understand and influence the motivations, attitudes, and actions of their human actors, as well as to design and implement controls and mitigation strategies that are user-friendly, effective, and ethical.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?