3 day instructor-led Conducting Security Risk Assessments class by best selling author Doug Landoll

Conducting Security Risk Assessments

Conducted properly, security risk assessments provide system owners with a risk-based decision making ability to properly implement cybersecurity programs. This includes a proper understanding of the threats to assets, vulnerabilities of current controls, and the selection of appropriate safeguards. Performed inaccurately or by winging it, these assessments provide a false sense of security and misapplied resources that ultimately lead to disastrous losses to data, capital, and corporate value.

Bases on the best practices, approaches, and techniques detailed in the 3rd Edition of The Security Risk Assessment Handbook: A Complete guide to Performing Security Risk Assessments this course gives you detailed instruction on how to conduct a security risk assessment effectively and efficiently.

Course Objectives:

At the completion of this course attendees will be able to:

• Better negotiate the scope and rigor of security assessments,

• Effectively interface with security assessment teams,

• Effectively assess any security control (administrative, technical, or physical),

• Gain an improved understanding of final report recommendations, and

• Deliver insightful comments on draft reports.

This course covers all of the elements of conducting an information security risk assessment from the statement of work to the final report. Walking you through the process of conducting an effective security assessment, it provides the tools and up-to-date understanding you need to select the security measures best suited to your organization.

Course Materials

Course materials include course slides, handouts, and a copy of The Security Risk Assessment Handbook, 3rd Edition 

Prior to Class Reading and Homework Assignment

·  Chapter 1: Introduction.

o Complete Questions 1-3.

·  Chapter 2: Security Risk Assessment Basics

o Be prepared to discuss question 3a.

·  Chapter 3: Project Definition

o Be prepared to discuss question 5.

Be prepared for the following discussion:

·  Purpose of an information security risk assessment?

·  When can/should one be performed?

·  Who should perform them?

1.   Introduction: Information Security Risk Assessment (ISRA)

·  Purpose and Use

·  Independence and Objectivity

·  Risk Equation Components (Assets, Threats, Vulnerabilities, Countermeasures)

·  Risk Assessment Components (Scope, Data Gathering, Data Analysis, Recommendations, Reporting)

2.   ISRA Scoping and Planning

·  Scoping and Budgeting an ISRA (Parameters, Controls, Boundaries, Scope-creep)

·  ISRA Subjects (systems, applications)

·  ISRA Project Management (phases, resources, tracking progress, status reporting)

·  Defining ISRA Project and Project Success / Completion (Statement of Work)

·  Exercise: Estimate resources required to complete an information security risk assessment as defined in a public RFP (provided).

3.     Data Gathering Introduction (Chapter 5)

·  Data Gathering Approaches (survey, interview, test)

o Data Gathering Challenges (completeness, accuracy, relevance)

·  RIIOT Data Gathering Approach

o Introduction to RIIOT

o Sampling techniques

4.     Advanced RIIOT Data Gathering (Chapters 6, 7, 8)

·  Review Documents – How to review documents for the 3 C’s

o Exercise: Review Vulnerability scanning report

·  Interview Key Staff – Interview techniques

o Exercise: Mock Interview

·  Inspect Equipment – Inspection Discussion

o Exercise: Inspect Fire / Emergency Controls

·  Observe Behavior – Observation techniques

o Exercise: Create physical walk-thru checklist

·  Test Technical Controls – Discussion security testing tools

o Exercise: TBD

o Homework: Create Data Gathering template for a selected/assigned control

5.   Security Control Frameworks

·  Security Controls

o Administrative, Physical, Technical Controls

·  Security Control Frameworks

o Importance of a framework

o Example frameworks:

·  NIST CyberSecurity Framework

·  NIST 800-53 / NIST 800-171

·  COBIT Version 5

·  ISO 27001/2

o Exercise: Tailoring Frameworks

6.   Quantitative vs. Qualitative Measurements

·  Qualitative Measurements

o Introduction (Ordinal Numbers)

o Application to Security Risk Assessments (Asset Classification, Threat Frequency, Vulnerability Exploitation Likelihood)

o Industry Examples (NIST, HHS)

·  Quantitative Measurements

o Introduction (Cardinal Numbers & Estimation)

o Application to Security Risk Assessments (Asset Valuation, Threat Frequency, Vulnerability Exploitation Probability)

o Exercise: Estimation Calibration Workshop

o Industry Examples: Applied Information Economics, FAIR

7.   Risk Analysis

·  Reviewing Evidence

·  Scenario-based Risk Assessment

o Scenario Frequency/Probability Factors

o Scenario Cost/Damage Factors

o Exercise: Example scenario

·  Control-based Risk Assessment

o Determining Weak and Non-existent Controls

o Determining Control-based risk

o Determining Control-based risk cost/damage

o Exercise: Example control group risk determination

8.   Safeguard Selection

·  Safeguard types (administrative, technical, physical)

·  Determining residual risk

·  Safeguard implementation horizons (near, mid, far)

·  Safeguard costing / estimating

·  Introduction to the “9-cell”

·       Exercise: Brainstorm safeguards for example scenario

9.   Risk Reporting

·  Components of Reporting / Documenting

o Evidence

o Executive Summary / Presentation

o Documenting approach used

o Documenting findings

o Documenting recommendations