Cyber Risk Management

Cyber Risk Management is the structured handling of digital risks within IT security from the perspective of business impact and probability of occurrence. Unlike purely technical security work, it is about prioritization, steering and management decisions. Risks are identified, assessed, accepted, reduced or monitored. To this end, technical findings must be linked to business processes, dependencies and damage potential.

For organizations, cyber risk management is essential because budgets, measures and governance should not be managed arbitrarily but in a risk-oriented manner; Governance and Security provides the framework for this. The term is gaining additional weight through regulatory requirements and board reporting. Good cyber risk management creates transparency about which risks must be addressed in the short term and which can be managed strategically. It is thus the bridge between security expertise and corporate management.

See also: Security Posture, Vulnerability Management and Cyber Resilience.