What is the BEST technique to determine which security controls to implement with a limited budget?
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A. B. C. D.C.
Cost-benefit analysis is performed to ensure that the cost of a safeguard does not outweigh its benefit and that the best safeguard is provided for the cost of implementation.
Risk analysis identifies the risks and suggests appropriate mitigation.
The annualized loss expectancy (ALE) is a subset of a cost-benefit analysis.
Impact analysis would indicate how much could be lost if a specific threat occurred.
When an organization has a limited budget for implementing security controls, it is essential to determine the most effective approach that can provide the maximum benefit within the budgetary constraints. In such a scenario, the BEST technique to determine which security controls to implement would be a risk analysis.
A risk analysis is a systematic process of identifying, analyzing, and evaluating the risks associated with an organization's information assets, operations, and activities. It helps in identifying the threats, vulnerabilities, and potential impacts on the organization's confidentiality, integrity, and availability (CIA) of information.
Once the risks are identified, the next step is to prioritize them based on their likelihood of occurrence and potential impact. The prioritization helps in identifying the most significant risks that require immediate attention and mitigation.
Based on the prioritization of risks, the organization can determine the most effective security controls to implement within the budget constraints. The security controls can be selected based on their ability to mitigate the highest risks while also considering their cost-effectiveness.
Annualized loss expectancy (ALE) calculations and cost-benefit analysis can also be helpful in determining the cost-effectiveness of security controls. ALE calculations help in estimating the expected annual cost of a specific risk, which can help in determining the ROI of implementing specific security controls.
A cost-benefit analysis helps in identifying the costs and benefits associated with implementing a specific security control. It can be helpful in comparing the costs and benefits of different security controls and selecting the most cost-effective one.
An impact analysis is also helpful in identifying the potential impact of a risk on the organization's operations and activities. It can help in determining the criticality of a risk and prioritizing it accordingly.
In conclusion, while ALE calculations, cost-benefit analysis, and impact analysis are helpful in determining the cost-effectiveness and criticality of security controls, the BEST technique to determine which security controls to implement with a limited budget is a risk analysis.