Importance of Cybersecurity Risk Assessments

Running head: IMPORTANCE OF CYBERSECURITY RISK ASSESSMENTS
Importance of cybersecurity risk assessments
Enter: Name of the Student:
Enter: Name of the University:
Enter: Author Note:

IMPORTANCE OF CYBERSECURITY RISK ASSESSMENTS
1
Table of Contents
1. Introduction............................................................................................................................2
1.1 Organization structure......................................................................................................2
1.2 Organization mission.......................................................................................................2
1.3 Organization vision..........................................................................................................2
1.4 Business profile................................................................................................................3
1.5 Threats..............................................................................................................................3
2. Task 1: Risk assessment.........................................................................................................3
2.1 Performing risks assessment............................................................................................3
2.2 Application of risk management results...........................................................................4
2.3 Limitations of current risk assessment methods..............................................................4
3. Task 2: Creation of five questions.........................................................................................5
3.1 Ranking of the assets........................................................................................................0
4. Task 3: Identification of threats.............................................................................................0
4.1 Supporting evidence.........................................................................................................1
5. Task 4: Impact of the threats..................................................................................................2
6. Recommendations..................................................................................................................4
7. Conclusions............................................................................................................................4
8. References..............................................................................................................................6

IMPORTANCE OF CYBERSECURITY RISK ASSESSMENTS
2
1. Introduction
Cyber security program can be defined as the framework which can be very much
useful to address the risks coming from the cyber security threats such as ransomware and
phishing emails. This report shall be presented from the perspective of a cyber-security
consultant who works in Deloitte Australia. This is one of the big four consultancy firms
who works work different business organizations such as an SME, an educational institution,
and government organizations.
The notable determination of this report is to focus on the cyber security risk
assessment for BHP Bill which is one of the most reputed natural resource company which
was established in the year 2001.
1.1 Organization structure
There are two parenting organizations who works on a collaboration to form this
SME. There is a unified board and management who works dedicatedly in this organization.
1.2 Organization mission
The prime mission of this SME is to have best capabilities, best commodities, and
best assets to create higher returns and long terms value (Deloitte Australia. 2019). Having
stable and predictable operations are also considered among the mission of this organization.
1.3 Organization vision
Maximization of value as well as the returns are the notable vision of this organization
as it can help them to improve the efficiency and productivity of the resources working in this
business.

IMPORTANCE OF CYBERSECURITY RISK ASSESSMENTS
3
1.4 Business profile
The balance sheet of this business is very much on the higher side, it was about $17B
at the end of the financial year 2017. Huge investments are done by this organization every
year to optimize the existing operations (DiMase et al. 2015). Portfolio development is one of
the prime ways used by this organization to keep a track of business reputation of this
organization.
1.5 Threats
The diverse categories of threats associated with this organization are data breach,
data security issues of the data stored in cloud servers, malware attacks, ethical hacking and
insecure APIs.
2. Task 1: Risk assessment
The productivity and the growth of this commercial organization depends hugely on
the data protection procedures which are adopted by this organization as there are diverse
categories of threats coming from both inside and outside the business environment. Risk
assessment procedure is one of the most significant business process which are deployed in
this business for the identification of risks (Frésard and Valta 2016). The vulnerabilities in the
organizational networks and the networks which are deployed among the subsidiary
organization and the third party vendors can be identified in the first place using the risk
management plan. Contingency of each of the identified risks can be formulated with the help
of the risk assessment plan.