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3 key takeaways:
- Risk is the context in which you apply your security program. It is the language that business will understand. The foundation of a risk program is based on the controls, which in turn are influenced by regulatory and statutory mandates.
- Be careful with absolutes, as risk is about gray areas – probability x impact. Probability by it’s nature is often qualitative; Impact can be quantitative, but at some point, you’ll always have to make a best guess backed by the facts at hand. So don’t be sure to use both methods to communicate risk. But no matter how you calculate risk, keep it simple
- The CSF is just a framework – think of a house and the framework that guides the structure of the house, but not the make up of the house. The walls can be stone, brick, wood, or compound materials – the walls and other elements can be customized to your needs, but the framework just provides the outline of where you’ll put walls, doors, windows, roof, etc.