Abstract: A method for implementing cybersecurity risk management for network connectable devices is disclosed. The method involves device vulnerability and risk assessment, risk remediation, compromise detection and incident response. The vulnerability and risk assessment consider both technical and human factors. The method also includes using crowdsourcing methods, such as games and gamification, standalone or in combination with other technologies for inventory development, risk assessment and compromise detection. The risk remediation/mitigation and incident response include prioritized role and skill-based execution of security controls and incident responses, wherein security controls and incident responses can be selected from multiple options based on effectiveness and cost. The method further involves governance of the risk management process in an entity.

Abstract: A method for implementing cybersecurity risk management for network connectable devices is disclosed. The method involves device vulnerability and risk assessment, risk remediation, compromise detection and incident response. The vulnerability and risk assessment consider both technical and human factors. The method also includes using crowdsourcing methods, such as games and gamification, standalone or in combination with other technologies for inventory development, risk assessment and compromise detection. The risk remediation/mitigation and incident response include prioritized role and skill-based execution of security controls and incident responses, wherein security controls and incident responses can be selected from multiple options based on effectiveness and cost. The method further involves governance of the risk management process in an entity.

Abstract: A method for optimal risk management is disclosed. The method involves deriving a risk score for a risk element by using various parameters that either indicate probability of risk materializing or potential impact if the risk actually materialized. The method also includes deriving ROI Index for each potential management action by calculating potential change in risk score and estimating cost of implementing the management action. The ROI Indexes are used to prioritize and select the optimal risk management strategies. The method further involves deriving risk scores for all risk categories. The method also includes prioritizing and selecting management actions from all risk categories.