Build, Optimize, and Present a Risk-Based Security Budget

Demonstrate the business value of investments in cyber and information security.
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Major Business Pain Points

  • Year after year, CISOs need to develop a comprehensive security budget that is able to mitigate against threats.
  • This budget will have to be defended against many other stakeholders to ensure there is proper funding.
  • Security budgets are unlike other departmental budgets. Increases or decreases in the budget can drastically affect the organizational risk level.
  • CISOs struggle with the ability to assess the effectiveness of their security controls and where to allocate money.
Build, Optimize, and Present a Risk-Based Security Budget-Pain Points

Recommendations

Key Points

  • CISOs can demonstrate the value of security when they correlate mitigations to business operations and attribute future budgetary needs to business evolution.
  • To identify the critical areas and issues that must be reflected in your security budget, develop a comprehensive corporate risk analysis and mitigation effectiveness model, which will illustrate where the moving targets are in your security posture.

Approach

Build, Optimize, and Present a Risk-Based Security Budget-Recommendations
  • The methodology moves you away from the traditional budgeting approach to building a budget that is designed to be as dynamic as the business growth model.
  • Collect your organization's requirements and build different budget options to describe how increases and decreases can affect the risk level.
  • Discuss the different budgets with the business to determine what level of funding is needed for the desired level of security.
  • Gain approval of your budget early by preshopping and presenting the budget to individual stakeholders prior to the final budget approval process.
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Methodology and Tools

Executive Brief

Read the concise Executive Brief to find out why you should build, optimize, and present a risk-based security budget and review the methodology.

  • Build, Optimize, and Present a Risk-Based Security Budget – Executive Brief
  • Build, Optimize, and Present a Risk-Based Security Budget – Phases 1-3

1. Review requirements for the budget

Collect and review the required information for your security budget.

  • Build, Optimize, and Present a Risk-Based Security Budget – Phase 1: Review Requirements for the Budget

2. Build the budget

Take your requirements and build a risk-based security budget.

  • Build, Optimize, and Present a Risk-Based Security Budget – Phase 2: Build the Budget
  • Security Budgeting Tool

3. Present the budget

Gain approval from business stakeholders by presenting the budget.

  • Build, Optimize, and Present a Risk-Based Security Budget – Phase 3: Present the Budget
  • Preshopping Security Budget Presentation Template
  • Final Security Budget Presentation Template

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