Jane Edwards
Kaus Phaltankar, co-founder and CEO of Caveonix, said adopting a risk-first approach to cyberthreats could enable organizations to strengthen security and protect valuable assets and that there are five best practices to implement that risk-first mindset to cybersecurity.
One of the best practices is conducting a quantitative risk assessment to score, identify trends and understand risk contributors to improve the decision-making process and better allocate resources, Phaltankar wrote in a commentary published Thursday in Dark Reading.
“The quantitative approach identifies major risk contributors and high-risk elements, providing precise insights into the hybrid cloud environment. Additionally, it attributes risk to the right department or application, holding them accountable and fostering a robust risk management system,” he noted.
According to Phaltankar, organizations should prioritize risks based on their potential impact, integrate gamification techniques in their risk management processes and create a comprehensive risk mitigation strategy once they have identified and prioritized risks.
The chief executive also called on organizations to automate continuous monitoring and reassessment processes.
“By implementing automation for real-time risk monitoring and alerts, organizations can stay abreast of emerging risks and adjust their mitigation strategies accordingly,” Phaltankar added.
