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Every business organization must face the challenge of protecting the infrastructure and network systems against possible risk of data and information loss. Such risks usually arise from human errors, system design weaknesses, architectural flaws, internal threats, and external malicious attacks. Identification of probable threat, extent of vulnerability and estimated inferred damage are few of major factors needed to be resolved and addressed before the system collapses.

However, the risk of getting your system hacked and attacked by malicious malwares never ceases to exist. Regardless of how well-formed and deployed the infrastructure is, the business will always remain prone to some cyber risk. The good part is that even the marginal of the risk can be managed and avoided. From assessing the possibility and impact of risk to drafting the right system response, a great cybersecurity risk management strategy lays out a plan and tackles all those threats.

Developing the framework for desired system protection:

The key to keep all the internal and external stakeholders and assets protected is to take the necessary management precautions and mitigation solutions. Ideally, the business organizations opt for comprehensive cybersecurity programs, consisting of firewalls, endpoint security, privacy protection, invasion preventions and limited access control. On the other hand, the organizations must consider few core factors and aspects involved in strategizing cybersecurity risk management, these are:

1. Asset value determination:

First things first, business assets are what determine the success and growth of the business, protecting them is the foremost priority. To start with, evaluate the value of different assets that could be compromised in a cyber-attack. Such assets could range from crucial organizational data and information to access to systems. Figure out the security level of each asset and incorporate the necessary risk mitigation solutions to prevent breach.

2. The general risk overview:

Now that you know the assets to safeguard, determine the probable threat to each asset. Estimate the possible impact and draft out the overall damage the risk could cost. It is important to examine the previous records of cyber-threats and risks to conduct a historical analysis and gain insights. Studying the past records help to understand the tactics of hackers while allowing you to improve your prevention and response methods.

3. Always be ready for attack:

Make sure your response system is always on standby, ready to identify and mitigate the incoming threat and risks. Always have several plans in place, in case the system faces some delays. The cost of cyber-attack is staggering, having multiple plans is what ensures comprehensive security. The reason for such high cost is that these threats and breaches stay undiscovered for months or years, giving the attacker enough time to incur sufficient damage.

Having a professional response team, continuous monitoring programs with NIST risk assessment guidelines followed by ISO-specified practices guarantee the business organization with technologized system security. No matter what the system specifications and business security culture are, a good cyber hygiene practices prove to be beneficial in the long run.