Cybersecurity risk assessment is the foundation of effective information security management.
It helps understand which systems and data are most vulnerable to attacks, what the potential impacts of incidents could be, and what actions to take to minimise risk.
In this article, I outline seven key steps for assessing risk in IT and OT environments.
1. What Is Cybersecurity Risk Assessment?
Risk assessment is the process of identifying, analysing, and evaluating threats to IT systems and data.
It determines where the organisation is most vulnerable and which risk mitigation actions are most effective.
The goal is not to eliminate risk entirely, but to manage it consciously.
2. Asset Identification
The first step is to identify all IT assets that require protection:
- hardware (servers, computers, network devices),
- software and applications,
- data (corporate, personal, critical to processes),
- networks and operating systems.
Understanding what you’re protecting is crucial — you can’t secure something you don’t know exists.
3. Threat Analysis
Next, identify potential threats, such as:
- malware, ransomware, phishing,
- internal threats (e.g., employee errors),
- external attacks (DDoS, supply chain attacks).
Use tools like threat modelling or frameworks (MITRE ATT&CK) to map risks.
4. Vulnerability Assessment
Evaluate vulnerabilities in systems:
- unpatched software,
- weak passwords,
- misconfigurations,
- outdated protocols.
Conduct regular scans (e.g., Nessus, OpenVAS) and penetration tests to find weaknesses.
5. Impact Analysis
Determine the consequences of potential incidents.
Impact analysis identifies which assets are critical to business operations and what the financial, legal, and reputational effects of their loss could be.
This stage bridges technology and business — helping prioritise actions.
6. Risk Evaluation
Estimate risk levels by considering:
- probability of threat occurrence,
- potential impacts,
- existing safeguards.
Place results in a risk matrix (e.g., 1–5 scale) to visually determine priorities.
This approach facilitates strategic decisions and communication with executives.
7. Risk Management Planning
The final step is developing a risk management strategy, including:
- implementing security measures,
- employee training,
- incident response procedures,
- regular updates to plans and risk analyses.
Risk assessment is an ongoing process — it should be repeated after any major technological or organisational change.
Summary
A well-conducted risk assessment allows you to:
- optimise security costs,
- tailor safeguards to real threats,
- increase organisational resilience to incidents.
Cybersecurity is a process of continuous improvement, not a one-time project.
Conscious risk management is the foundation of every organisation’s security.
Get in Touch
Want to conduct a risk assessment in your company or prepare an IT/OT security plan?
Contact me:
Email: biuro@wichran.pl
Phone: +48 515 601 621
Author: Piotr Wichrań – Court-appointed IT forensic expert, IT/OT cybersecurity specialist, licensed private investigator
@Informatyka.Sledcza