The ransomware attack against Colonial Pipeline, the critical US energy infrastructure company, is one among several critical events that have elevated the importance of governments around the world adopting a risk-based approach to cybersecurity.
The growing pace and sophistication of nation-state attacks, coupled with an expanding attack surface stemming from digital modernization, makes governments’ ability to quantify and prioritise cyber risks accurately an urgent mission. Critical IT infrastructure cybersecurity must adopt a risk-led security strategy backed by a real-time decision and operational support system to ensure it can mitigate future threats.
Color-coding risks or hitting a “maturity score” number are qualitative, subjective approaches to risk that don’t translate to financial terms. They aren’t making organisations more secure or more cost-effective as agencies struggle to prioritise limited budgets and resources. Risk assessments just for the sake of compliance to directives don’t deliver any value beyond compliance. They lack the cost-benefit analysis needed to focus activities where they would reduce the most dangerous risk.
XRATOR Cyber Risk Quantification generates periodical financially-based risk reporting meaningful to government stakeholders and policy makers. You’ll identify your department or agency’s top risks, overall risk exposure, risk trends over time, and run cost-benefit analysis to determine which risk management activities provide the best return on investment. You will communicate these results and activities in non-technical terms that can be related to budget and mission objectives.