With cyber attacks and threats continuing to escalate in tandem with geopolitical tensions, consequence-based cyber risk management has emerged as a vital mechanism for protecting critical infrastructure installations. In contrast with the risk management strategies that traditionally deal with probabilities of threats, this model prioritizes the possible consequences of cyber events to industrial control systems (ICS) and operational technology (OT) environments. Sectors like energy, manufacturing, and utilities are especially dependent on this transition since the effects of a cyberattack could be drastically severe, ranging from downtime of the operations to safety risks and environmental damage.
These critical infrastructures are now seeking to integrate consequence-based cyber risk management with their business goals. This means gaining an intimate familiarity with their operating priorities and the possible consequences of cyber attacks. By integrating this strategy into more comprehensive organizational risk management strategies, organizations can have confidence that their investments in cybersecurity are focused on safeguarding their most valuable assets…
