‎Risk ‎Effect of uncertainty on objectives ‎positive / negative

‎ evel of risks should be compared against risk evaluation

L
‎Action
‎criteria, particularly risk acceptance criteria.
‎Risk assessment ‎Overall process of risk identification, risk analysis and risk evaluation
‎ .4.1 Comparing the
7
‎A list of suggestions for decisions on additional ‎Risk Identification ‎Process of finding, recognizing and describing risks
‎Output ‎results of risk analysis
‎actions regarding the management of risks.
‎with the risk criteria
‎ rocess to comprehend the nature of risk
P
‎Risk analysis
‎To evaluate risks, organizations should compare the assessed risks ‎and to determine the level of risk ‎Risk
‎ .4 Evaluating
7
‎with the risk criteria defined during the establishment of context. ‎assessment
‎the information ‎ rocess of comparing the results of risk analysis
P
‎The risks on the list should be prioritized for risk
‎Action ‎security risks ‎Risk evaluation ‎with risk criteria to determine whether the risk and/
‎treatment, considering assessed levels of risks ‎or its significance is acceptable or tolerable

‎ .4.2 Prioritizing the analysed

7
‎A list of prioritized risks with risk scenarios that lead to those risks ‎Output ‎ equence or combination of events leading from
S
‎risks for risk treatment ‎Terms ‎Risk scenario
‎the initial cause to the unwanted consequence
‎ isk evaluation uses the understanding of risk obtained by risk
R
‎analysis to make proposals for deciding about the next step to take. ‎Event ‎Occurrence or change of a particular set of circumstances

‎Risk owner ‎Person or entity with the accountability and authority to manage a risk

‎ ignificance of a risk, expressed in terms of the

S
‎using a scale of qualifying attributes ‎Level of risk
‎combination of consequences and their likelihood
‎Qualitative
‎e.g. high, medium, low
‎Consequence ‎Outcome of an event affecting objectives

‎using a scale with numerical values ‎likelihood ‎Chance of something happening

‎Quantitative
‎ .g. monetary cost, frequency or probability
e ‎Risk criteria ‎Terms of reference against which the significance of a risk is evaluated
‎of occurrence ‎Techniques

‎using qualitative scales with assigned values ‎Semiquantitative

‎ isk assessment enables risk owners to prioritize
R

‎ isk analysis should be targeted at those risks and controls that, if managed
R
‎7.3.1 General
I‎SO 27005:2022 ‎risks aligned with the treatment perspective

‎successfully, improve the likelihood of the organization achieving its objectives

‎7. Information security ‎1. Risk Identification

i‎t can be sufficient to use initial, and rough

‎estimates of likelihood and consequence
‎It is easy to spend significant time on a risk assessment ‎risk assessment process ‎7.1 General ‎Activities ‎2. Risk analysis

‎3. Risk evaluation

‎ he consequences resulting from the failure to adequately preserve
T www.patreon.com/AndreyProzorov
‎confidentiality, integrity or availability of information should be ‎Action ‎ISRM approach should be aligned with the organizational RM approach
‎identified and assessed

‎ list of potential consequences related to risk scenarios with their

A
‎Output
‎consequences related to assets or events, depending on the approach applied. ‎ .3.2 Assessing potential
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‎ isks associated with the loss of
R
‎consequences
‎Action ‎confidentiality, integrity and availability of
‎ stimation of the losses (time or data) due to the event
E
‎information should be identified.
‎as result of interrupting or disturbing operations

‎ stimation/perception of severity of the

E s‎ hould be taken ‎Output ‎A list of identified risks
‎consequence (e.g. expressed in money) ‎into consideration: ‎ .3 Analysing
7
‎This involves the identification of risk sources and events.
‎information
‎Recovery costs
‎security risks ‎ .2.1 Identifying
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I‎dentify strategic scenarios through a
‎and describing
‎ he likelihood of occurrence of possible or actual scenarios should
T ‎consideration of risk sources, and how
‎Action ‎information ‎Event-based
‎be assessed and expressed using established likelihood criteria. ‎they use or impact interested parties to
‎security risks
‎reach those risk’s desired objective.
‎Approaches
‎A list of events or risk scenarios complemented by likelihoods that these occur ‎Output
‎ .3.3 Assessing
7 I‎dentify operational scenarios,
‎likelihood ‎Asset-based ‎which are detailed in terms of
‎a) team assessments rather than individual assessments ‎ .2 Identifying
7
‎assets, threats and vulnerabilities.
‎information
‎b) external sources (reports)
‎security risks ‎ isk identification is critical, because an information security risk that is
R
‎Increasing the reliability
‎c) scales with range and resolution ‎not identified at this stage is not included in further analysis.

‎Action ‎Risks should be associated to risk owners

‎ ) unambiguous categories, such as “once a
d
‎year”, rather than “infrequent” ‎ .2.2 Identifying
7
‎Output ‎List of risk owners with associated risks
‎risk owners
‎ he level of risk should be determined as a combination of the assessed
T
‎Action
‎likelihood and the assessed consequences for all relevant risk scenarios ‎ op management, the security committee, process owners, functional
T
‎owners, department managers and asset owners can be the risk owners.
‎ .3.4 Determining
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‎A list of risks with level values assigned ‎Output
‎the levels of risk

‎Combination of the assessed likelihood and the

‎assessed consequences for all relevant risk scenarios