Conducting Cybersecurity Risk Assessment for Critical Infrastructure

This document serves as a comprehensive guide for Critical Information Infrastructure Owners (CIIOs) on how to perform thorough cybersecurity risk assessments. It emphasizes the importance of risk assessment in identifying potential threats, determining risk levels, and fostering a risk-aware culture within organizations. The guide outlines the essential steps involved in risk assessment, including establishing risk context (defining risk, determining risk tolerance, and clarifying roles and responsibilities), conducting the assessment (risk identification, risk analysis, and risk evaluation), and responding to identified risks. It provides definitions of key terms such as threat event, vulnerability, likelihood, and impact, along with examples of risk tolerance tables and clear specifications of stakeholder roles. The document also addresses common problems observed in risk assessment practices, such as poor articulation of risk scenarios and the absence of risk tolerance, offering valuable insights for CIIOs to improve their risk management processes and protect their critical information infrastructure effectively.