Best Practices for Addressing Vulnerabilities and Enhancing Security

C.

Explanations - One approach seeing increasing use is to report and monitor risk through the use of key risk indicators (KRIs)

KRIs can be defined as measures that, in some manner, indicate when an enterprise is subject to risk that exceeds a defined risk level.

Typically, these indicators are trends in factors known to increase risk and are generally developed based on experience.

They can be as diverse as increasing absenteeism or increased turnover in key employees to rising levels of security events or incidents.

All the given options have a role to play in mitigating identified vulnerabilities, but the one that would BEST mitigate vulnerabilities in a timely manner is option D, i.e., having an action plan with responsibilities and deadlines.

Explanation:

A. Continuous vulnerability monitoring tool: Continuous vulnerability monitoring is an essential practice for identifying vulnerabilities that may exist within an organization's systems or network. It helps to identify weaknesses that could potentially be exploited by cybercriminals. Although it is an important activity, it does not necessarily lead to the timely mitigation of vulnerabilities. Continuous monitoring is a reactive approach that only identifies vulnerabilities as they are found, but it doesn't offer a clear strategy on how to address them.

B. Categorization of vulnerabilities based on system's criticality: Categorizing vulnerabilities based on the system's criticality is a useful strategy to prioritize vulnerabilities that need immediate attention. This approach helps to ensure that critical systems receive attention first, and the less important ones receive attention later. However, categorizing vulnerabilities is only the first step in the process. After prioritizing vulnerabilities, an action plan must be developed to mitigate them.

C. Monitoring of key risk indicators (KRIs): Key Risk Indicators (KRIs) are specific metrics that organizations use to track their risks. They help organizations to identify potential risks and take steps to mitigate them. Monitoring KRIs is an important practice, but it is a reactive approach that focuses on identifying risks after they have occurred. It doesn't necessarily help organizations to address identified vulnerabilities in a timely manner.

D. Action plan with responsibilities and deadlines: An action plan that clearly outlines the steps that need to be taken to mitigate identified vulnerabilities is the BEST way to ensure timely mitigation. The action plan should assign responsibilities to specific individuals, specify the resources needed to mitigate vulnerabilities, and establish deadlines for the completion of each task. This approach ensures that vulnerabilities are addressed in a timely and efficient manner, minimizing the likelihood of exploitation by cybercriminals.

Conclusion:

In conclusion, while all the given options have a role to play in mitigating identified vulnerabilities, an action plan with responsibilities and deadlines is the BEST approach to ensure timely mitigation. The action plan should be developed based on the prioritized vulnerabilities and assign responsibilities to specific individuals, specify the resources needed to mitigate vulnerabilities, and establish deadlines for the completion of each task.