Cyber Security Risk Management

Running head: - CYBER SECURITY RISK MANAGEMENT
CYBER SECURITY RISK MANAGEMENT
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1CYBER SECURITY RISK MANAGEMENT
Cyber security is one of the most important concern for all the business organization.
Every organization relies on the computer technologies to store the information. The
information need to be protected so that it is not misused and hacked .Cyber security gives
economic security as well as it protects public and health information and provide safety.
Nations is secure when its information is secure. The main aim is to discuss about the
benefits of structural approach and cost effective method for managing cyber risk. In the
below sections the topics discussed are related to the ways and implementation of cost
effective methods, the environment it’s operating on, justification that the method used is cost
effective .
The first thing that an organization need to keep in mind are the risk related to cyber
security. In order to prevent it three major points needs to be taken care that will help in the
long run of the organization. The organization must have a clear understanding about the
recent risk exposure to cyber security, implementation of the cost effective methods for cyber
security and build an environment in the organization related to cyber security. It is
implemented in the system life cycle (DiMase et al., 2015).
WannaCry ransomware is a type of cyber-attack, in which the windows of the computer
containing important data is infected and then the PC’s files are distracted (Mohurle & Patil,
2017). It consists of multiple of components, the components includes an application that can
encrypt and decrypt data, a file that contains the encryption keys and a copy of tor.
To prevent such kind of cyber-attack, cyber security is one of the major concern for
the organization. Structural approach and risk management framework serves as a cost
effective method (Scheuermann, 2017). Risk management framework is a structure and
planning to save guard the organizational assets. Risk management framework promotes real