Therefore, I’d like to present a different approach for small business cybersecurity risk assessment based on assumed risk, threat event outcome, and layers of currently employed mitigations. The business does not have the expertise or tools to conduct a threat modeling exercise to determine specific threats.The business lacks a process to identify vulnerabilities, and.However, for most small businesses, steps 2 and 3 in this cybersecurity risk assessment template are a significant challenge because: The screenshots below are from a cybersecurity risk assessment template and show the results of a steps 4-6 of a typical cybersecurity risk assessment exercise, undertaken in a tool commonly used by small business, a spreadsheet: low probability x high impact = moderate risk In a separate matrix, combine probability and impact to determine risk, according to some algorithm, e.g.In a matrix, iterate through each threat and determine the probability of that threat exploiting each vulnerability.Develop a list of threats the organization faces, such as social engineering, loss/theft, hacking, etc.For example, users are susceptible to social engineering, and a vulnerability scan on IT components will undoubtedly turn up missing patches and insecure configuration Develop a list of vulnerabilities associated with those assets, especially in users and IT components. Develop a list of things of value to the organization-assets-such as users, intellectual property, customer info, IT components, facilities, etc.A small business qualitative cybersecurity risk assessment typically goes something like this:
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