Cyber Risk Quantification Use Case: Justify and Prioritize Resource Allocation

July 18, 2022  Jeff B. Copeland

Business-Aligned-CISO-1-3Use Case:

Efficient allocation of people, processes, and budget to maximize risk reduction, based on quantitative cyber risk analysis with the RiskLens platform.

The Problem:

CISOs face conflicting pressures to secure digital transformation and other initiatives while defending against an unrelenting threat landscape.

They need a way to prioritize mitigation for identified security gaps, justify investments in new cybersecurity initiatives, and communicate to stakeholders in the financial language of business: return on investment for risk reduction.

It’s a balancing act. But too often their available tools – CVSS scores, qualitative, best-guess red/yellow/green risk ratings, maturity scores based on checklists for controls frameworks – just produce noise and don't support disciplined decision-making or effective communication to CFOs or other budget deciders. 

Watch a RiskLens Webinar: Improving Cybersecurity Prioritization & Justification Challenges with Risk Quantification


The Solution:

Using the enterprise-level RiskLens platform for quantitative cyber risk analysis, with these features

>>Curated, industry specific risk data for analysis, augmented with the organization’s internal data

>>Rapid risk assessment to rank cyber risk scenarios for loss exposure in dollar terms

>>Detailed risk analysis of identified top risks, to reveal the drivers of risk and focus remediation

>>Risk treatment analysis to game out relative reduction in loss exposure for controls or process changes, insurance purchase or risk acceptance.

Case Study:

Tech Company Quickly Identifies Top Cyber Risks with Quantitative Analysis

In high tech organizations, risk management often takes a backseat to product development because it is seen as an offramp in the way of speed to market. The risk management team at a major tech company found a way to break through that mindset


Prioritize and Communicate Your Cybersecurity Roadmap:

Give strategic direction to a security program on a solid base of quantitative analysis, with clear and defensible justification for initiatives based on maximum risk reduction for time and dollars invested. 

Responsibly Shift or Reduce Investments

Remove or change controls or security processes with confidence, using comparative analyses on the RiskLens platform. 

Communicate Trade-offs in Financial Terms

The RiskLens platform generates risk reporting in the financial language that leaders expect to understand their range of options and probable impacts on the business. 

Sample Output – Comparative Analysis on the RiskLens Platform

RiskLens Platform - Cyber Risk Assessment

 A RiskLens Risk Assessment showing estimated risk reduction and ROI of various cybersecurity initiatives on enterprise top risk scenarios. 

See for yourself how the RiskLens platform supports well-informed, risk-based decision making. Contact us for a demo.