InfoSec and Privacy Risk Assessment

Streamline InfoSec Risk Assessments with Top Frameworks

The CIS (Center for Internet Security) Top 20 Critical Security Controls are a set of best practices developed to help organizations defend against the most pervasive and dangerous cybersecurity threats. These controls provide a prioritized, actionable, and measurable approach to managing and CIS - YouTube reducing cybersecurity risks. Originally known as the SANS Top 20, the CIS Controls are widely recognized and adopted by organizations across industries to strengthen their cybersecurity posture.

The CIS Controls are organized into 3 categories: Basic, Foundational, and Organizational. The goal is to provide a clear roadmap for organizations to implement effective cybersecurity measures, starting with the most critical and foundational security practices.

InfoSec and Privacy Risk Assessment Overview

In many cases, organizations choose to integrate these frameworks. For example, you might use ISO 31000 for an overall risk management strategy, ISO 27005 for managing specific InfoSec risks, NIST for detailed controls and methodologies, and OCTAVE for asset-centric evaluations.

1. ISO 31000 (Risk Management)

Overview: This is a high-level framework for risk management that applies to all types of risks (not just InfoSec). It provides a structured approach to identifying, assessing, and managing risks.
Key Concepts:
- Risk Management Process: Involves establishing the context, risk assessment (risk identification, risk assessment, and risk treatment), and monitoring and review.
- Risk Treatment: Focus on risk control options like avoidance, mitigation, transfer, or acceptance.
Applicability to InfoSec/Privacy: Although it’s broader than InfoSec, it can be used to establish a foundation for InfoSec risk management within an organization, including privacy risks.

2. ISO 27005 (Information Security Risk Management)

Overview: This standard provides guidelines for information security risk management, specifically aligning with ISO 27001 (Information Security Management System – ISMS).
Key Concepts:
- Risk Assessment Process: Covers the identification of risks, risk assessment (impact and likelihood analysis), and risk treatment options.
- Risk Treatment: After assessing risks, organizations can choose to mitigate, transfer, accept, or avoid risks.
Applicability to InfoSec/Privacy: Directly focuses on the management of information security risks, providing a systematic method for managing risks that affect information confidentiality, integrity, and availability.

3. NIST (National Institute of Standards and Technology) Frameworks

Overview: NIST has several standards and frameworks, including NIST SP 800-30 (Risk Management Guide for Information Technology Systems) and NIST SP 800-53 (Security and Privacy Controls).
Key Concepts:
- Risk Assessment Process: Involves identifying threats, vulnerabilities, and assessing the impact and likelihood of risk events.
- Security and Privacy Controls: NIST provides a catalog of security and privacy controls that organizations can implement to mitigate risks.
Applicability to InfoSec/Privacy: NIST is a widely recognized and detailed framework for managing InfoSec and privacy risks. Its approach is more prescriptive and can be adapted for specific risk management needs in cybersecurity.

4. OCTAVE (Operationally Critical Threat, Asset, and Vulnerability Evaluation)

Overview: OCTAVE is a risk assessment methodology developed by Carnegie Mellon University focused on helping organizations identify, assess, and manage security risks related to information assets.
Key Concepts:
- Asset Identification: Focuses on identifying critical information assets.
- Risk Identification: Identifies and evaluates threats and vulnerabilities related to those assets.
- Risk Mitigation: Involves creating plans to manage identified risks.
Applicability to InfoSec/Privacy: OCTAVE focuses specifically on information security risk management and includes privacy concerns in the context of protecting critical assets and operational needs.

1. ISO 31000

ISO 31000 is broad and can be applied to any kind of risk management, making it adaptable for InfoSec and privacy

2. ISO 27005

ISO 27005 is more specialized, focusing on information security risks and aligns with ISO 27001 standards for managing information security risks

3. NIST

NIST offers a detailed and structured approach, especially suited for federal agencies or organizations with a focus on cybersecurity and privacy

4. OCTAVE

OCTAVE focuses on understanding operational impacts and is more asset-centric, helping organizations understand the risk to critical assets and how to mitigate them effectively