When it comes to implementing an Information Security Management System (ISMS) as per ISO 27001, understanding how to effectively match assets, threats, and vulnerabilities is crucial for identifying and mitigating risks.
This process forms the backbone of a strong ISMS, enabling organisations to proactively address security concerns and bolster their defence mechanisms. Here’s a practical guide on how to integrate these components to enhance your organisation's security posture.
Step 1: Listing Assets
The first step in the risk assessment process is to list all the assets that are part of your organisation’s information system. You can do this using de.iterate's Asset Register.
Assets are not only limited to physical devices or documents but also include software, data, and even human resources. For simplicity and effectiveness, you may want to group similar assets together. For example, you could group all company-owned laptops under a single item called 'laptops'. This reduces complexity and streamlines subsequent steps.
Step 2: Identifying Threats for Each Asset
Once you have a clear list of assets, the next step is to identify potential threats to each of these assets. A threat could be anything that could exploit a vulnerability to cause harm to the asset.
Common threats include natural disasters, cyber-attacks like phishing or malware, hardware failures, and even human error. It is important to think broadly about what might pose a risk to each asset.
For a comprehensive list, take a look at our article: Examples of Threats and Vulnerabilities.
Step 3: Pinpointing Vulnerabilities
For every threat identified, determine the vulnerabilities that could be exploited. A vulnerability is a weakness or gap in security that could be leveraged to harm the asset. For example, if 'phishing attacks' is listed as a threat to your digital assets, a corresponding vulnerability might be 'employees are not trained to recognise phishing attempts'. This step requires a detailed understanding of how each asset operates and interacts within your organisational framework.
Let’s illustrate this with examples to see how assets, threats, and vulnerabilities interlink:
Asset: Server
Threat: Natural disaster (e.g., flood)
Vulnerability: Servers are located on a ground floor without flood protection.
Asset: Customer Database
Threat: Cyberattack (e.g., SQL injection)
Vulnerability: Database software is outdated and lacks recent security patches.
Step 4: Use de.iterate to Simplify the Process
To make the risk assessment process more manageable, you can use de.iterate. Our platform allows you to organise assets and risks in a structured format. Start by listing all assets, then systematically add potential risks. This approach not only saves time but also ensures no critical element is overlooked.
Step 5: Scoring Risks and Prioritising Remediation
Once the risks are clearly defined by matching assets, threats, and vulnerabilities, assign a likelihood and impact score to each risk. These scores help prioritise which risks to address first based on their potential impact on the organisation and the probability of their occurrence. Tools like risk matrices can be invaluable here, helping visualise and decide on risk treatment strategies. There's one included in your dashboard.