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Risk Assessment, Evaluation & Treatment

We assess, quantify and treat cyber risk - from qualitative cyber risk assessments to FAIR-based financial quantification and threat risk assessments - so you invest where it matters most, against your appetite.

Risk assessment workshop
GOVERN
NIST Function · Govern

Assess, quantify and treat cyber risk - so you invest where it matters

Cyber risk assessment is the disciplined process of understanding what could go wrong, how likely it is, and what it would cost. Grounded in ISO 31000, ISO 27005 and NIST SP 800-30, it turns uncertainty into evidence that leaders can act on and defend.

There is no single right method - only the right one for the decision in front of you. CyberSecOn tailors the approach - qualitative, quantitative (FAIR) or threat-centric - and maps every finding to your risk appetite, so the outcome is a clear, prioritised, decision-ready view of your exposure.

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Backed by ISO/IEC 27001 · Certified CREST · Accredited NIST · CMMC · ISO 27001 · GDPR Australia · USA · Middle East
Three ways we assess risk

The right method for the decision in front of you

Qualitative, quantitative or threat-centric - we match the approach to what you need to decide.

Cyber Risk Assessment

A broad assessment of risks to your assets, scored on likelihood and impact.

Best for: Baseline posture, compliance & board reporting
  • Prioritised risk register
  • Risk heat map
  • Risk-appetite alignment

FAIR Model

Decomposes risk to express it in financial terms - dollars of likely loss.

Best for: Prioritising spend & business cases
  • Top risks quantified in $
  • Loss-scenario modelling
  • Investment prioritisation

Threat Risk Assessment

Starts from threats and threat actors against a specific asset or system.

Best for: A new system, critical asset or change
  • Threat-to-impact mapping
  • Safeguard recommendations
  • Residual-risk view

We extend risk assessment into OT - targeting Security Levels (SL-T) against ISA/IEC 62443-3-2 and applying sector methods such as RCRA for rail and PASRA for aviation.

How we deliver

Our risk assessment lifecycle

A disciplined cycle grounded in ISO 27005 and NIST SP 800-30 - from scope to treatment and review.

1
Step 01

Scope & Context

We agree what is being assessed and against which appetite.

  • Define boundaries and objectives
  • Confirm risk appetite
  • Engage stakeholders
2
Step 02

Identify Assets

A clear picture of what matters and what it is worth.

  • Discover and classify assets
  • Map data and dependencies
  • Assign business value
3
Step 03

Threats & Vulnerabilities

We surface what could act against each asset, and how.

  • Identify credible threats
  • Assess vulnerabilities and controls
  • Consider third-party exposure
4
Step 04

Analyse Risk

Each risk is measured by likelihood and impact.

  • Rate likelihood of occurrence
  • Estimate business impact
  • Quantify in $ where it counts (FAIR)
5
Step 05

Evaluate & Prioritise

Risks are ranked and tested against your appetite.

  • Compare against risk appetite
  • Rank and prioritise exposure
  • Flag what exceeds tolerance
6
Step 06

Treat, Monitor & Review

Decisions are actioned and exposure is tracked over time.

  • Select treatment (the 4 Ts)
  • Build a remediation roadmap
  • Monitor and reassess
Quantify with FAIR

The FAIR model - risk in financial terms

We decompose risk into its factors so your top exposures can be expressed in dollars.

Risk
= Loss Event Frequency × Loss Magnitude
Likely frequency and magnitude of future loss, in dollars
Loss Event Frequency
= Threat Event Frequency × Vulnerability
How often a loss event is likely to occur
Threat Event FrequencyHow often a threat actor acts against the asset.
VulnerabilityLikelihood an attempt overcomes your controls.
×
Loss Magnitude
= Primary Loss + Secondary Risk
How much a single loss event is likely to cost
Primary LossDirect, immediate losses you incur from the event.
Secondary RiskFollow-on losses from stakeholder and third-party fallout.

Quantifying risk in financial terms lets you compare unlike risks, justify spend and put security investment on the same footing as every other business decision.

Treat & decide

Four ways to treat every risk

Once risks are ranked against your appetite, each gets a clear, owned decision - the 4 Ts.

Treat

Reduce likelihood or impact by strengthening controls.

We prioritise cost-effective, high-impact controls.
Transfer

Shift financial exposure to a third party, such as insurance or contract.

We size the risk to inform transfer decisions.
Tolerate

Knowingly accept a risk that sits within appetite.

We document and evidence accepted risk.
Terminate

Remove the exposure by stopping or changing the activity.

We identify safer alternatives and trade-offs.

Your risk, expressed in business and financial terms, prioritised against your appetite and fully traceable to source - a decision-ready view your board and CISO can trust and defend.

Ready when you are

Let's talk about risk assessment & treatment

Book a free assessment and we'll show you where you stand and the practical next steps - scoped to your environment and budget.