Risk Assessment

Focus: Understand the risks associated with the incident to prioritize and guide the response efforts effectively.

Process:

• Review Context: Examine the context of the incident, considering the nature of the alerts and the potential consequences.
• Ask Analysis Questions: Pose relevant analysis questions to gauge the level of risk associated with the incident.
• Evaluate Impact: Assess the potential impact on the organization, including data exposure, system compromise, and business continuity.
• Assess Likelihood: Estimate the likelihood of the incident escalating or spreading based on historical data, patterns, and current observations.
• Consider Consequences: Think about the consequences of the incident in terms of operational disruptions, reputational damage, and financial loss.

Outcome:

• Risk Categorization: Classify the incident into risk categories based on the assessed impact and likelihood. Common risk categories include high, medium, and low.
  • Read Risk Categorization
• Decision Support: Provide a basis for decision-making regarding the prioritization of incident response actions. A higher-risk incident may require more immediate and resource-intensive measures.
• Communication: The outcome informs stakeholders about the severity of the incident and potential consequences, aiding in transparent communication during the incident response.

Example Analysis Questions for Risk Assessment:

• What is the potential impact of the incident on the organization’s assets?
• Is there sensitive data at risk of exposure?
• How likely is the incident to escalate or spread?
• What are the consequences of the incident in terms of operational disruptions, reputational damage, and financial loss?

Example Outcome:

• After the risk assessment, the incident is categorized as a “Moderate” risk due to potential compromise of non-sensitive data with a medium likelihood of escalation. This outcome guides the incident response team in allocating resources and prioritizing actions accordingly.