Cyber Security Risk Assessment: A Comprehensive Analysis

Desklib provides solved assignments and past papers to help students succeed.

Table of Contents
Introduction:-........................................................................................................1
Task 1....................................................................................................................2
Risk Assessment:-.............................................................................................2
Task 2....................................................................................................................3
Task 3....................................................................................................................3
Task 4....................................................................................................................3
Conclusion:-..........................................................................................................4
References:-..........................................................................................................4

Introduction:-
This assignment is divided into 4 parts in which first part is about risk assessment and
importance of risk assessment in the cyber security and second part is about critical asset
identification and third is about identification of threats and last part is about asset
vulnerabilities. This assignment tells that how risk assessment plays a role in cyber security
and current limitations of risk assessment. And it also explain about threats and asset
vulnerabilities.
Task 1
Risk Assessment:-
Risk assessment means to identify the hazards, risks and use a sensible way to control the
risks, rather than not wasting time on creating paperwork, it identifies the measures to
overcome the risks. Here are the some points which help to understand that how risk
assessment is deal with the risk and hazards:-
 First step is about to identify the hazards it may be anything which causes harm.
 In second step decide who is going to harm and how.
 In this step assess the risk and find a way to deal with risk.
 After this make a record of findings.
 And in last step review risk assessment.
Basically these are the points which tells that how to deal with the risk assessments. Risk
assessment is first and most important step in improving the cyber security. There are many
benefits of risk assessment using in cyber security, because it helps to improve the
communication, reduce the term cost and also reduce the risks and hazards. Here are the
following points which tells that how risk assessment is important in developing and
managing cyber security in any company or organization[rapidwebseries]:-
 It helps to reduce long term cost means to identify the threats and then working to
curtail them which helps to prevent security events and this whole process saves
organization money for a long way.
 It also improve communication because normally a cyber security needs input from
different departments and due to this there is an increase in organization visibility
and improve communication.
 Risk assessment also provide a good self awareness in cyber security because it tells
that where is weak point and helps in giving a good idea for improving which helps
in growth.
Limitations of the current risk assessment are following as[brighthubpm]:-
 Lack of data:- Many risk assessment techniques needs gathering of data for
performing operation and developing of models and for this there is need of extensive

data collection and which can be costly. And to identify countermeasure it undergo if
any partial data occurs.
 Insufficient analysis expertise and time:- It is very necessary to having a
comprehensive skill and knowing to solve the result correctly. Qualitative analysis
help to identity risk.
Task 2
Information asset is mainly a body knowledge which is organized as single entity. Like many
other assets information asset also contain some financial value. The information asset is
handle and maintained by the people’s who are working in a consistent manner. The
information asset is created to handle the issues of organization.
Whenever building information asset the main step is to identify and the needs to protect.
Means to identify critical assets which impact integrity, availability. The critical assets
mainly include information of customer sales, scientific research and internal processes. Once
after identification of critical assets use different techniques like asset tracking and risk
assessment using hardware and service.
Top five Questions to identify most critical information assets:-
 What is risk of an asset-related disaster?
 What are cost of correction versus preventative maintenance?
 What is current condition of critical assets?
 Which information asset would be expensive to replace?
 Which asset generate most revenue?
Task 3
Threat is defined as any negative event which causes a risk and loss of data is called as threat.
Here are the top five threats to the organisation information assets[rutter-net]:-
 Malware and Ransomware:- These type of threats comes in different form, which are
running in background on computer without users knowledge. Malware hides and lift
the valuable information while ransomware locks the users machine and send a
notification to user for unlocking the machine in this way it steal the data from user.
 Virus:- A virus program works by pour out itself into many applications and slow
down the computer, and delete files, destroy data. Basically these type of virus comes
from malicious websites in an email form or in any file form.
 Spyware:- Basically spyware stores user information and send it to the unauthorized
party. It is normally works as a simple program and convince user to click or access
the particular program by clicking on that link, it steal the users data.
 Unpatched server and software vulnerabilities:- Big threats in business in cyber
security includes data loss and other types of loss. According to the rules financial
data loss pays equal fines for violations.

 Cloud Stack, Shadow IT, and Mobility Vulnerabilities:- Shadow IT means use of
unauthorized software and cloud services by internal business employees and due to
this various security vulnerabilities added to the business.
These are the top threats to the organization information assets.
Task 4
Identification of asset vulnerabilities:- Existence of vulnerability is a main factor for find the
probability of risk. If vulnerability of an asset is absorbed by threat then the risk factor
becomes high for that asset. For example if a system having weak password and hacker want
to crack them and this will improve the chance of unauthorized access and simply this shows
that vulnerability increase the probability of data loss. For security and trust here are the three
main requirements[sciencedirect]:-
 Confidentiality:- It provides the access that who want to read information or access
the data. And control who get access to read data.
 Integrity:- Maintains a integrity and provide a assurance that program and
information are only changed in authorized manner.
 Availability:- Assure authorized user for continue access to a particular data or
information.
Impact of Threats:- There are many threats, viruses corrupt the data on computer. And all
these types of risks and threats can impair many business operation. Here are some points
which describe about the impact of threats:-
 Time
 Instability
 Undesirable content
 Data harvesting
These are the some impact of threats like time lost due to slowdown of computer, browser
redirection and link redirection gives undesirable content. Many risky software run on users
computer without any knowledge.
Conclusion:-
The entire assignment is divided into four different parts and which consist risk assessment,
and cyber security and information assets and identification of threats. The assignment
simply defines all the things in a brief way including the benefits and drawbacks. And also
tells how these factors help in a business or in an organization.

References:-
Rutter-net, 2019, 5 types of IT security threats , viewed 04 September 2019, < https://www.rutter-
net.com/blog/5-types-of-it-security-threats-facing-businesses>
Brighthubpm, 2019, Find all limitations of risk assessment analysis, viewed 04 September 2019, <
https://www.brighthubpm.com/risk-management/91362-the-limitations-of-risk-assessment-
analysis/>
Rapidwebservices, 2019, cyber risk assessment, viewed 04 September 2019,<
https://www.thesslstore.com/blog/cyber-risk-assessment/>
Sciencedirect, 2019, Identifying vulnerability, viewed 04 September 2019, <
https://www.sciencedirect.com/topics/computer-science/identifying-vulnerability>