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KNOWLEDGE BASE

Risk Management Requirements

Risk management is a crucial component of NIS and NIS2 compliance, providing a systematic and structured approach to identifying, analyzing, and managing risks associated with IT infrastructure. The European Union Agency for Cybersecurity (ENISA) specifically mentions vulnerability management as one of the ways to improve cyber security in the EU member states. Article 21 of the NIS2 Directive clearly states the requirements for risk management and risk assessments, as can be seen below.

article 21

Cyber Security Risk Management Measures

Article 21 of the NIS2 Directive summarizes the minimum measures entities under NIS2 must take. These measures clearly state the need for risk analysis and risk management.

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Article 21 (2a)

Policies on risk analysis and information system security.

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Article 21 (2f)

Policies and procedures to assess the effectiveness of cyber security risk-management measures.

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Why You Need Risk Management

  • Strengthen your cyber security defense proactively to avoid attacks. 
  • Create a foundation to implement NIS and NIS2 compliance. 
  • Create a systematic and continuous cyber security approach as required by NIS and NIS2. 
  • Be able to prove NIS and NIS2 compliance.
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risk assessments

Why Risk Assessments are Essential

Identification of vulnerabilities

Risk assessments help identify vulnerabilities in network and information systems. By conducting a thorough analysis, organizations can pinpoint weaknesses in their infrastructure, applications, and processes that malicious actors may exploit.

Understanding threats

A comprehensive risk assessment includes an analysis of potential threats that could compromise the confidentiality, integrity, or availability of information and systems. Understanding the threat landscape is essential for developing effective cyber security strategies.

Prioritization of security measures

Risk assessments prioritize security measures based on the level of risk associated with different assets and potential incidents. This allows organizations to allocate resources effectively and focus on addressing the most critical risks first.

Compliance with NIS & NIS2 requirements

The NIS directives and similar regulations often require organizations to assess and manage risks effectively. Conducting risk assessments helps demonstrate compliance with these legal and regulatory requirements.

Proactive risk management

Rather than reacting to incidents after they occur, risk assessments enable organizations to take a proactive approach to cyber security. By identifying and mitigating risks in advance, organizations can reduce the likelihood and impact of potential incidents.

Resource allocation

Limited resources, including financial and human resources, are common challenges in cyber security. Risk assessments help organizations allocate resources strategically, ensuring that investments are directed toward addressing the most significant risks.

Continuous improvement

Risk assessments are not a one-and-done activity, rather they are part of an ongoing risk management process. Regular assessments allow organizations to adapt to changes in their IT environment, emerging threats, and evolving technologies.

Security by design

The NIS and related cyber security frameworks emphasize the importance of a "security by design" approach. Risk assessments are integral to incorporating security considerations into the design and development of information systems and services.

Incident preparedness

Understanding and assessing risks contribute to better incident preparedness. Organizations that have identified and analyzed potential risks are better equipped to respond effectively in the event of a cyber security incident.

Demonstrating due diligence

By conducting risk assessments and implementing appropriate security measures, organizations demonstrate due diligence in safeguarding their networks and information systems. This can be important in legal and regulatory contexts.

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