It is advisable to use a risk matrix to identify, assess and manage your company’s cyber-risks. This tool makes it possible to visualise the various risks and to classify them based on the potential severity of their impact and on their likelihood of occurrence.
Example of a risk matrix or risk heat map
The matrix is usually divided into four quadrants that represent different levels of risk: high, medium-high, medium-low and low. Information on IT system vulnerabilities, potential threats, potential impacts and existing security measures feeds into this. It may also take account of information about the company’s ability to detect and respond to IT security incidents.
Risks that are considered high in terms of severity and likelihood are deemed the most important to manage.
Using this matrix, companies can identify the main risks and manage them effectively.
