IT security departments need to get more scientific with the ways in which they develop their strategies. This is if they ever desire to meet the risks posed by cyber threats which continue to get more advanced every day.
Security experts warn that old methods can no longer deal with these threats. This is based on previous breach statistics and malware infection rates.
IT experts agree that traditional IT is very complex, and that won’t change anytime soon. Every day, new strategies are developed to secure the existing IT systems. Cybercriminals, on the other hand, keep on developing and releasing new threats.
This makes the developed strategies weak or useless depending on the intensity of the threats, and the IT security professionals are forced to develop and redevelop new strategies every day.
Also, IT experts agree that security organizations need to integrate risk management principles into the frameworks which assist their decision making.
Through that, the organizations will be able to move past the daily toil and implement a meaningful change in their respective business. The following are the reasons why IT security needs risk management.
It helps prioritize the overflow
With too few information security professionals and too many systems to cover, the traditional IT security strategies make it difficult to prioritize which systems to cover first. Additionally, the goal of IT security is not developing these strategies, but to secure the entire IT systems in any given organization.
Risk management is an important strategy which concentrates security efforts on the organization’s mission and prioritizes all security efforts to critical systems. Based on this, risk management makes it possible to accomplish more with fewer resources.
Also, you can be able to understand what you are doing and why you are doing only if you have the ability to analyze the resources to be allocated to certain threats.
Converts security into a business language
Risk management is what connects information security to the entire organization; this is according to Conrad Constantine, a research engineer at AlienVault. He also adds that IT security which is not supported by risk management is essentially an intellectual exercise carried out at the expense of the organization.
Risk management uses a dollars-and-cents approach, which returns IT back to what it’s supposed to be doing; that is safeguarding the organization’s investments in information systems. This saves the time and resources used by information security experts while trying to defend systems from the “scariest sounding threats,” which may never even happen.
It can’t make any sense to spend $10,000 to protect something worth $8,000. You cannot evaluate your risk without risk assessment; this makes it hard to even evaluate the amount to spent. Proper risk management helps you understand just how much you need to spend.
Risk management helps organizations to have a clear knowledge of the systems they are protecting, their value and the consequences of the organization if it ever loses the information it is trying to secure.
Some IT experts call this risk and reward management – because that’s how business decisions are made. You must speak money, a language which the business understands for you to get a seat at the table.
Reduces security complexity on technology
Risk management easily expands the horizons of IT security and also beyond the technology. This effect can play a critical role in improving the organization’s IT security.
Having IT security is not enough. If the technology is not configured properly, it can’t provide adequate security. Thus, risk management does an evaluation of the effectiveness of the technology, as well as the processes and people who manage the technology.
Inserts IT security into the business’ big picture
Inserting IT security into the business’ big picture might be the most important function of risk management. Through this, it can contextualize activities and how they affect the business’ activities to continue innovating and thriving.