Analytical Review on Cyber Risk Management

Abstract

One unsettling truth emerges from the modern landscape of cybersecurity risk management: managing cyber risk across the enterprise is more difficult than ever. Even the most skilled teams today may find it difficult to keep architectures and systems secure and compliant. "As more of our physical world is linked to and controlled by the virtual world, more of our business and personal information becomes digital", according to various industry veterans and cybersecurity consultants at trust in information technology. While cybersecurity risk management has never been more important, it has also never been more difficult. The study's main question is, "What is Cyber Risk Management?" The first sub-question is, "What are the steps for managing Cyber Risk?" and the second sub question of study is “what are the benefits of cyber risk management?”. The methodology used in this research is secondary data, which we obtained from various books and URLs. The research finding is that other factors beyond the changing threat of landscape also affect existing cybersecurity risk planning. Regulations are frequently changed and new ones are enacted. To ensure compliance, the risks associated with these changes must be assessed and cybersecurity policies and procedures are modified to ensure compliance.