Essay on Cybersecurity Metrics

Executive Summary

When a request for proposal (RFP) was received from a Fortune 500 CFO, GrowMyMoney.com did not have a security metrics program in place. As a result, the company went bankrupt and lost a lot of money. To address this issue, the corporation has appointed a new Chief Information Security Officer (CISO) to work with the organization on developing a security metrics program.

The program aims to clarify security metrics, their need, and how they may be applied. In addition, key performance indicators (KPIs) should be created to monitor success. A security metrics measurement plan with metric thresholds and follow-up actions should be devised if metrics not be reached (Ramos et al., 2017).

The program’s security metrics should prioritize the protection of consumer financial and data information, as well as the prevention of illegal access, data theft, and other security concerns. The program should also ensure that industry standards and laws are followed.

Metrics such as password strength, user access control, and data encryption should be included in the program to assess the success of the security controls and processes in place. It should also assess the ability to detect and respond to security risks in real time and the efficacy of security awareness and training initiatives (Onwubiko et al., 2020).

The security metrics program should also include key performance indicators (KPIs) to monitor the program’s effectiveness, such as the proportion of significant attacks, the number of cybersecurity threats, and the time to respond to incidents. Furthermore, the application should track the cost of security events as well as the rate of the authentication process.

The security metrics measurement plan should include metric thresholds and follow-up actions. These metrics thresholds should be created based on the selected KPIs and regularly evaluated and updated. A reporting system should be included in the security metrics program to guarantee that the program is being implemented appropriately and successfully. Furthermore, the program should contain a feedback and evaluation system to guarantee that the program’s objectives are met (Ahmed et al., 2019).

GrowMyMoney.com can efficiently secure client data, financial information, and other security risks by creating a security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure conformity with regulatory and industry norms.

Definition and Explanation

Measuring the effectiveness of security measures and processes such as password complexity, user access control, and encryption keys is the ‘what’ of security metrics. It also assesses the ability to recognize and respond to safety risks in a timely way, as well as the effectiveness of security knowledge and training programs.

The purpose of security metrics is to safeguard client data and financial information and avoid unauthorized access, data theft, and other security concerns. It also ensures adherence to industry norms and laws.

The ‘how’ of security metrics is to create key performance indicators (KPIs) that will be used to monitor the program’s effectiveness, such as the proportion of successful attacks, the number of information security, and the time to respond to incidents (Ramos et al., 2017). Furthermore, the application should track the cost of security events and the rate of successful authentication. The program should also contain a system for reporting and feedback, as well as metric thresholds and follow-up actions if the metrics are not fulfilled.

Program Creation

GrowMyMoney.com Program for Security Metrics

GrowMyMoney.com can efficiently secure client data, financial information, and other security risks by creating a security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure compliance with industry standards and regulations (Onwubiko et al., 2020).

Step 1: Identify Metrics

Metrics such as password complexity, user access control, and data encryption should be included in the program to assess the success of the security controls and processes in place. It should also assess the capability to identify and respond to security risks in real time and the efficacy of security awareness and training initiatives.

Step 2: Identify KPIs

The security metrics program should also include key performance indicators (KPIs) to monitor the program’s effectiveness, such as the proportion of cyberattacks, the number of security incidents, and the time to respond to incidents (Arabsorkhi et al., 2018). Furthermore, the application should track the cost of security events and the rate of successful authentication.

Step 3: Establish Metric Thresholds

The security metrics measurement plan should include metric thresholds and follow-up actions. These metrics thresholds should be created based on the selected KPIs and regularly evaluated and updated.

Step 4: Create a Reporting System

The security metrics program should include a reporting system to guarantee that the plan is implemented appropriately and successfully. Furthermore, the program should contain a feedback and evaluation system to guarantee that the program’s objectives are met.

Step 5: Establish Metric Reporting System

The security metrics program should include processes for collecting metrics in a timely and reliable manner. Automated processes should be used, and manual processes should be used when necessary.

Step 6: Implement a Metric Analysis Procedure

The security metrics program should include processes for analyzing metrics and identifying areas of concern. Automated processes should be used, and manual processes should be used when necessary.

Step 7: Implement a Metric Reporting Procedure

The security metrics program should include processes for reporting metrics to management and stakeholders. Automated processes should be used, and manual processes should be used when necessary.

Step 8: Assess and Monitor

To ensure that the program is effective and accomplishes its objectives, the security metrics program should contain methods for evaluating and monitoring the metrics. Automated processes should be used, and manual processes should be used when necessary.

Metric Measurements

The security metrics program should have an execution method to measure each KPI. This procedure, which should be reviewed and updated on a regular basis, must encompass the people, processes, and technology required to measure the metric. To quantify the percentage of successful attacks, the software should have an execution mechanism for detecting and responding to security threats on time. This approach should be reviewed and updated regularly and include the people, processes, and technology required to detect and respond to threats (Ahmed et al., 2019).

The program should also contain a feedback and evaluation system to verify that the program’s objectives are satisfied. The feedback and review process should include the people, methods, and technology required to analyze and monitor the metrics to ensure that the program is effective and accomplishes its objectives. If a metric goes below the stated threshold, the program should incorporate a system of follow-up actions (Arabsorkhi et al., 2018). These steps should include the people, processes, and technology required to address the problem and return the measure to the stated threshold.

Conclusion

GrowMyMoney.com will efficiently safeguard client data, financial information, and other security risks by creating a thorough security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure compliance with industry standards and regulations. This program will assist the organization in better understanding the effectiveness of its security controls and processes and responding to any security concerns quickly and effectively.

Work Cited

Ramos, Alex, et al. “Model-based quantitative network security metrics: A survey.” IEEE Communications Surveys & Tutorials 19.4 (2017): 2704–2734.

Ahmed, Yussuf, Syed Naqvi, and Mark Josephs. “Cybersecurity metrics for enhanced protection of healthcare IT systems.” 2019 13th International Symposium on Medical Information and Communication Technology (ISMICT). IEEE, 2019.

Onwubiko, Cyril, and Karim Ouazzane. “SOTER: A playbook for cybersecurity incident management.” IEEE Transactions on Engineering Management 69.6 (2020): 3771-3791.

Arabsorkhi, Abouzar, and Fariba Ghaffari. “Security metrics: principles and security assessment methods.” 2018 9th International Symposium on Telecommunications (IST). IEEE, 2018