With the changing threat environment, industrial and operational environments are under greater pressure than ever to reconcile operational effectiveness with effective cybersecurity. OT (operational technology) asset owners are increasingly looking to cyber risk quantification to address the challenges of keeping their critical infrastructure safe without sacrificing productivity. With the increasing sophistication of cyber threats, conventional risk assessment methods are no longer adequate.
Industrial companies are now embracing new methods to assess risks, giving top priority to consequence-based engineering to understand the possible effects of cyber attacks on operations, safety, and revenues. The price of underestimating or incorrectly valuing cyber risk can be catastrophic. Monetary loss, business downtime, and brand damage are just a few of the results of complacency. Executives stress that forward-thinking risk quantification is necessary to validate cybersecurity investments, obtain budgets, and prove value to leadership. By quantifying cyber risk in financial terms, organizations can allocate resources wisely and achieve executive sponsorship for key…
