Prioritizing Cybersecurity Risk for Enterprise Risk Management

Publication Title: Prioritizing Cybersecurity Risk for Enterprise Risk Management

Publication Number: NIST IR; NIST interagency report; NIST internal report; 8286B

Subject: Computer security
Risk management
Cybersecurity risk management
Cybersecurity risk measurement
Cybersecurity risk register (CSRR)
Enterprise risk management (ERM)
Key performance indicator (KPI)
Key risk indicator (KRI)
Risk acceptance
Risk aggregation
Risk avoidance
Risk conditioning
Risk mitigation
Risk optimization
Risk prioritization
Risk response
Risk sharing
Risk transfer

Government Author: Commerce Department, National Institute of Standards and Technology (NIST) .

Abstract: This document is the second in a series that supplements NIST Interagency/Internal Report (NISTIR) 8286, Integrating Cybersecurity and Enterprise Risk Management (ERM). This series provides additional detail regarding the enterprise application of cybersecurity risk information; the previous document, NISTIR 8286A, provided detail regarding stakeholder risk guidance and risk identification and analysis. This second publication describes the need for determining the priorities of each of those risks in light of their potential impact on enterprise objectives, as well as options for properly treating that risk. This report describes how risk priorities and risk response information are added to the cybersecurity risk register (CSRR) in support of an overall enterprise risk register. Information about the selection of and projected cost of risk response will be used to maintain a composite view of cybersecurity risks throughout the enterprise, which may be used to confirm and, if necessary, adjust risk strategy to ensure mission success.